[Click e-Stock] "Orthodontic Pain Is a Thing of the Past... Graphy, Investment Rating Upgraded"

Sangsangin Securities announced on the 24th that it is maintaining its target price for Graphy at 62,000 won and upgrading its investment opinion to "Buy."

Ha Tae-gi, a researcher at Sangsangin Securities, stated, "The company's operating performance in the first half of this year is expected to show a moderate increase compared to market expectations, so short-term momentum for the stock price is somewhat limited. However, from a long-term investment perspective of over one year, the outlook is positive, and given the recent sharp drop in the share price, we have upgraded our investment opinion from 'Hold' to 'Buy.'"

He added, "Graphy is currently working on obtaining certifications, forming partnerships, and expanding production infrastructure to enter the global market. These efforts are expected to translate into sales in the second half of this year or from next year onward. At present, the market is in a phase where expectations reflected in the stock price are being confirmed and adjusted through actual operating results, which may result in some price corrections or a sideways trend."

The game changer expected in the second half of this year or the first half of next year is the shape memory orthodontic device (SMA). SMA can move teeth with only one-tenth the force of conventional orthodontic devices, making the process less painful for patients.

Researcher Ha explained, "At the SMA orthodontic symposium held by Graphy in mid-March, clinical experience and real-world application cases were shared. This indicates that the market is moving beyond the stage of simply introducing the technology and is now entering the stage of clinical validation. Once clinical reliability is secured, orthodontic treatment based on SMA is expected to become a standard treatment option at some dental clinics, which could lead to a significant expansion of Graphy's material sales."

He continued, "This symposium can be interpreted as a leading indicator of future sales growth. Considering that there is typically a lag of at least 6 to 12 months between discussions about expanding clinical application and an increase in prescriptions, it is likely that actual sales growth in the first half of this year was slow, but sales could surge around the second half of next year."

This content was produced with the assistance of AI translation services.