[Click eStock] "JW Jungwoo Pharmaceutical, Confirmed Earnings Growth... Target Price Up"

Hana Securities raised the target price for JW Pharmaceutical from 40,000 KRW to 47,000 KRW on the 10th. This marks the fourth consecutive upward revision of the target price this year.

JW Pharmaceutical recorded sales of 183.5 billion KRW and operating profit of 22.7 billion KRW on a separate basis in the second quarter. Compared to the same period last year, sales increased by 12.6%, and operating profit rose by 120.3%, exceeding market expectations. The key products driving the performance were the improved new drug for hypercholesterolemia, Livarojet, and Hemlibra. Livarojet achieved sales of 17 billion KRW, 2.5 times that of last year. Hemlibra also contributed with sales of 4.4 billion KRW.

Hana Securities also raised its annual earnings forecast for JW Pharmaceutical, buoyed by the strong second-quarter results. Sales on a separate basis are estimated to reach 754.3 billion KRW, with operating profit expected to be 94.8 billion KRW this year.

Jaekyung Park, a researcher at Hana Securities, said, "Reflecting the upward revision of earnings estimates, we are raising the target price. JW Pharmaceutical has shown high valuation appeal, recording a stock return of 82.3% since July, leading to a rapid re-rating." However, he added, "Regarding AI drug development, which recently drove the stock price increase, a long-term perspective is needed rather than expecting short-term results."

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