[비즈니스포스트] The target stock price of Dong-A ST (Dong-A ST) has increased.
Profitability is expected to be strengthened this year as sales of prescription drugs and overseas divisions continue to increase.
▲ Shinyoung Securities raised its target stock price for Dong-A ST (pictured) on the 16th, saying its profitability will strengthen in 2024 thanks to strong sales of prescription drugs.
Jeong Yoo-kyung, a researcher at Shinyoung Securities, raised the target stock price for Dong-A ST from 70,000 won to 80,000 won on the 16th. The investment view was maintained at BUY.
The Donga ST stock price ended trading at 65,000 won on the 15th.
Researcher Jeong observed, “Dong-A ST is also expected to improve profitability this year, focusing on the prescription drug business.”
In particular, sales of growth hormone drugs Grotropin and Suganon are expected to continue to increase in 2024.
Researcher Jeong predicted, “Grootropin is expected to grow 20% this year, and the Suganon series is expected to grow close to 50% compared to 2023 with the launch of four new products this year.”
The foreign business division is also expected to see an increase in sales this year with the start of selling biosimilars (generic biological drugs) abroad.
Dong-A ST owns DMB-3115, a biosimilar to Stelara, an autoimmune disease treatment drug. It is expected to be sold in Europe as early as the fourth quarter of this year.
Researcher Jeong said, “It is difficult for Bacchus sales to recover this year due to the economic downturn in Cambodia, but double-digit growth for darbepoetin alfa and anti-tuberculosis drugs is expected to continue,” adding, “In addition, sales European of Stelara biosimilar starting in the fourth quarter. “As expected, it will grow compared to 2023,” he analyzed.
Dong-A ST is expected to generate 701 billion won in sales and 32 billion won in operating profit on a consolidated basis in 2024. Compared to 2023, sales will increase by 4.7% and operating profit will increase by 60% . Reporter Jang Eun-pa
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