Sangsangin Investment & Securities noted on the 2nd that there are high expectations for the growth of filler exports and the developing complex filler of Humedix. They maintained a 'buy' investment opinion and revised the target price upward from 56,000 won to 63,000 won. The closing price of Humedix on the previous trading day was 53,400 won.
Researcher Ha Tae-gi of Sangsangin Investment & Securities believes that the growth trend of Humedix's filler exports, which is the background for the recent surge in stock prices, will continue.
Researcher Ha stated, 'The filler exports last year recorded 37 billion won, a 45.7% increase compared to the previous year,' adding, 'In the second half of this year, if they receive approval for the body filler category in Brazil, total filler exports to Brazil will exceed 25 billion won.'
He continued, 'In the second quarter of this year (April to June), we plan to launch all fillers (Ellansé and Revanesse) in Thailand, and we are also preparing for the entry of Ellansé into Vietnam,' predicting that filler exports will significantly increase and drive overall company revenue.
Researcher Ha believes there are high expectations for the developing complex filler Bellfien (PN Filler). He said, 'We will finish clinical trials in the first half of this year and apply for product approval to the Ministry of Food and Drug Safety in the second half, so we may be able to launch it around the second half of next year.'
Additionally, he noted, 'In the short term, with the stock price surging, there may be a short-term adjustment due to the limited growth in revenue until the second half. However, if the clinical data for Bellfien is positive in the second half and the likelihood of a launch in the second half of next year increases, we might expect positive momentum for the stock price.'