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[Alpha Biz=(Chicago) Reporter Kim Jisun] Securities firms are lowering their target stock prices as Daewoong Pharmaceutical lost the first trial of a civil suit against Medytox on the 10th. Although Daewoong Pharmaceutical filed an appeal and applied for suspension of compulsory execution, the stock market believes that the resulting uncertainty is a negative factor that cannot be done.
According to the Korea Exchange on the 16th, Daewoong Pharmaceutical's stock price closed at 122,000 won, up 0.49%. It exceeded 160,000 won at the beginning of the year, but has remained in the 120,000 won range since the 10th, the day of the defeat.
Judging that Daewoong Pharmaceutical's toxin strain was the same as that of Medytox, the court ruled to return the strains, discard semi-finished and finished products manufactured with strains, and pay 40 billion won in damages. It has been six years since I filed a lawsuit.
After losing, 11 securities firms lowered Daewoong Pharmaceutical's target stock price.
Sangsangin Securities lowered Daewoong Pharmaceutical's target stock price from KRW 250,000 to KRW 170,000.
eBEST Investment & Securities also said it will lower its target stock price from 220,000 won to 160,000 won.
Excluding sales of Nabota in Korea and other countries, it is expected to decrease from current estimated sales of 1.3773 trillion won and operating profit of 125.3 billion won to sales of 1.31 trillion won and operating profit of 114 billion won.
DB Financial Investment lowered Daewoong Pharmaceutical's operating profit by 20% this year, lowering its target price from 210,000 won to 160,000 won.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
