[Click e-Stock] "Humedix: Skin Booster Growth Potential Rising... Target Price Up"

Sangsangin Securities analyzed on September 22 that Humedix's growth potential is being enhanced by strengthening its lineup of skin boosters. The firm maintained its "Buy" investment rating and raised its target price to 84,000 won.

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Sangsangin Securities predicted that Humedix's stock price will continue its upward trend in the fourth quarter. The firm expects export volumes to increase, particularly in Brazil and Thailand. Researcher Ha Taegi stated, "Operating results are expected to gradually recover, bottoming out in the second quarter of 2025. Exports are increasing in Brazil and Thailand, and it is estimated that cosmetics exports are also rising in Southeast Asia and Japan."

The company also projected that sales of the skin booster Ellavie Re:Two will increase. He said, "Ellavie Re:Two sales are estimated at 1 billion won in the second quarter, 2.2 billion won in the third quarter, and 2.7 billion won in the fourth quarter of this year. We expect sales to reach 6.4 billion won in 2025 and 13.9 billion won in 2026."

Next year, approval is also expected for the composite filler Belphien (PN Filler). He explained, "Belphien is likely to complete clinical trials by the end of 2025 and apply for product approval from the Ministry of Food and Drug Safety in the first half of 2026. If the schedule proceeds smoothly, product approval and launch could be possible within 2026."

He emphasized, "Since PN-based medical device skin boosters have significant sales growth potential, if the launch is successful, it will have a major impact on the stock price. Expectations for Belphien could also build significantly from the end of this year through the first half of next year."

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