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Investing.com - Macquarie has upgraded PharmaResearch Co Ltd (KS:214450) from Neutral to Outperform, while significantly raising its price target by 106% to 740,000 won.
The upgrade comes as Macquarie shifts focus to the company’s growth momentum, with the research firm expecting PharmaResearch to beat second-quarter earnings estimates due to strong domestic and overseas sales performance.
Macquarie noted that confirmed Rejuran exports to non-major European Union markets have boosted its confidence in smooth EU market uptake for the company’s products.
The research firm highlighted that PharmaResearch is expected to announce its EU sales partner in August 2025, representing a potential catalyst for the company.
The new price target reflects Macquarie’s prior Galderma peer comparison analysis and momentum in Rejuran expansion across markets.
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