Category: Bio & Healthcare

Brokerage : Shinhan Securities Analyst : Minyong Eom, Seokhyeon Yoon Investment Rating : BUY (Maintained) Target Price : KRW 620,000 (Upgraded) Core Momentum : Major patent overhangs materially eased following US PTAB’s invalidation of Halozyme’s core patent, addressing triple valuation discounts across patents, royalty clarity, and rapid Keytruda SC conversion. 📊 1. [Valuation & Key…

Read More “[Research] Alteogen (196170) – Shinhan Securities | Halozyme Patent Invalidated · Key Overhangs Materially Eased · Target Price Raised / 2026-05-14” »

Brokerage : Hana Securities Analyst : Seona Kim (RA: Changkeun Yoo) Investment Rating : BUY (Maintained) Target Price : KRW 580,000 (Maintained) Core Momentum : Sustained quarterly milestone inflows following licensing-heavy 1Q26 earnings, strategic differentiation highlighted by GSK’s deal structures, and favorable expectations for the upcoming PGR final written decision in early June. 📊 1….

Read More “[Research] Alteogen (196170) – Hana Securities | Steady Milestone Inflows · Interpreting GSK’s Enhanze Deal · PGR Final Ruling Catalysts / 2026-05-13” »

Brokerage : Shinhan Securities Analyst : Minyong Eom, Seokhyeon Yoon Investment Rating : BUY (Maintained) Target Price : KRW 570,000 (Maintained) Core Momentum : Keytruda SC April sales reach KRW 123.5 Billion post-J-code rollout, securing trillion-KRW annualized revenue visibility, backed by Biogen’s mid-single digit royalty clarity and early June PTAB PGR catalysts. 📊 1. [Valuation…

Read More “[Research] Alteogen (196170) – Shinhan Securities | Keytruda SC Growth Accelerates · Favorable Contract Terms · Early June PGR Catalysts / 2026-05-11” »

Brokerage : IBK Securities Analyst : Lee-soo Jung Investment Rating : BUY (Maintained) Target Price : KRW 250,000 (Maintained) Core Momentum : Expanding sales share of new biosimilar products and operating leverage from top-line growth supporting progressive margin improvements in the second half 📊 1. [Valuation & Key Financial Metrics] 🚀 2. [Market Opportunities &…

Read More “[Research] Celltrion (068270) – IBK Securities | New Biosimilar Mix Expansion · Operating Leverage · H2 Margin Expansion / 2026-05-07” »

Brokerage : SK Securities Analyst : Seon-kyoung Lee Investment Rating : BUY (Maintained) Target Price : KRW 260,000 (Maintained) Core Momentum : Full-fledged profitability improvement driven by expanding sales mix of new product portfolios and increasing fixed-cost leverage supported by scheduled 2H US launches 📊 1. [Valuation & Key Financial Metrics] 🚀 2. [Market Opportunities…

Read More “[Research] Celltrion (068270/KS) – SK Securities | New Portfolio Mix Expansion · Operating Leverage · H2 Product Launches / 2026-05-07” »

Brokerage : Yuanta Securities Analyst : Hyun-soo Ha Investment Rating : BUY (Maintained) Target Price : KRW 270,000 (Maintained) Core Momentum : Profitability enhancement driven by an expanding revenue share of new biosimilars, alongside global capacity expansions to support portfolio additions and CMO demand 📊 1. [Valuation & Key Financial Metrics] 🚀 2. [Market Opportunities…

Read More “[Research] Celltrion (068270) – Yuanta Securities | New Biosimilar Growth · Facility Expansion · CMO Capacity Readiness / 2026-05-07” »

Brokerage : DS Investment & Securities Analyst : Min-jeong Kim Investment Rating : BUY (Maintained) Target Price : KRW 320,000 (Maintained) Core Momentum : Rapid commercial penetration of new biosimilars including Omlyclo and Stevqeyma, paired with COGS ratio stabilization, driving solid annual operating profit growth 📊 1. [Valuation & Key Financial Metrics] 🚀 2. [Market…

Read More “[Research] Celltrion (068270) – DS Investment & Securities | 2nd-Gen Biosimilar Penetration · COGS Ratio Stabilization · Global Capacity Expansion / 2026-05-07” »

Brokerage : Kyobo Securities Analyst : Hee-ryung Jung Investment Rating : Buy (Maintain) Target Price : KRW 260,000 (Maintain) Core Momentum : Market overreaction regarding ABL001 clinical readouts countered by potential new Grabody-B platform deals and upcoming full data presentation for ABL111 📊 1. [Valuation & Key Financial Metrics] 🚀 2. [Market Opportunities & Business…

Read More “[Research] ABL Bio (298380) – Kyobo Securities | ABL001 Clinical Data · Market Overreaction · Grabody-B Potential / 2026-04-29” »

Brokerage : DS Investment & Securities Analyst : Min-jeong Kim Investment Rating : N/R Target Price : N/R Core Momentum : Limited enterprise value impact from ABL001 clinical trial statistical insignificance, with core valuation anchored in Grabody-B and Grabody-T platforms 📊 1. [Valuation & Key Financial Metrics] 🚀 2. [Market Opportunities & Business Outlook] 📝…

Read More “[Research] ABL Bio (298380) – DS Investment & Securities | ABL001 Data Failure · Grabody Platforms · Intrinsic Value / 2026-04-28” »

Brokerage : iM Securities Analyst : Jaewon Jeong Investment Rating : Buy (Maintained) Target Price : KRW 2,200,000 (Maintained) Core Momentum : Sustained 100% capacity utilization across Plants 1–4 combined with upcoming Q3 revenue recognition from the newly acquired US site and order pipeline optimization amid favorable global CDMO regulatory shifts. 📊 1. [Valuation &…

Read More “[Research] Samsung Biologics (207940) – iM Securities | US Site Operation · K-CDMO Policy Support · Order Pipeline Optimization / 2026-04-23” »