Shinhan Financial Investment stressed on the 29th that Seegene is expected to grow reagent sales in the short term and has momentum to build a comprehensive healthcare platform in the mid- to long-term.
The target stock price began to be 80,000 won and investment opinion 'buy'.
"Seegene is a company that develops, manufactures and supplies molecular diagnostic reagents and is supplying reagent products based on major source technologies to domestic and foreign hospitals and inspection centers," said Shinhan Financial Investment.
"We account for more than 90% of overseas sales, but we operate corporations in seven countries and provide all-in-one platform services," Shinhan Financial Investment said. "In particular, sales of COVID-19 diagnostic kits surged from KRW 122 billion in 2019 to KRW 1.1252 trillion last year.".
The proportion of sales by region is 49% in Europe, 14% in North America, 14% in Latin America and 14% in Asia, which is expected to expand sales to Europe through COVID-19 mutant virus diagnosis kits and COVID-19 simultaneous diagnosis kits.
"Demand for COVID-19 diagnostic kits will continue in the wake of the start of the prescription of COVID-19 drugs and the continued spread of the Delta mutant virus," Shinhan Investment Corp. said. "The increase in demand for flu and COVID-19 diagnostic kits due to global lock-down centered on advanced countries and the lifting of mandatory wearing of masks can also contribute to strong kit sales.".
Reporter Lee Ji-sun stockmk2020@gmail.com
