Hanmi Pharmaceutical 1 trillion 8,000 hundred million won technology transfer deal prompts securities firms to raise price targets
Hanmi Pharmaceutical signed a technology transfer and export agreement with Eli Lilly (contract value 1 trillion 8,000 hundred million won). Some securities firms raised their target prices, but the stock also closed down about 6% after profit-taking during the session. Hyundai Motor said its collaboration with Boston Dynamics was moving into a more concrete phase, while securities firms gave a positive outlook for Hyundai Mobis’s actuator business.
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Hanmi Pharmaceutical announced that on 6, 2 it had signed a technology transfer and export agreement with US pharmaceutical company Eli Lilly. The contract value was reported to be 1 trillion 8,000 hundred million won. Citing the agreement, some securities firms raised their target prices for Hanmi Pharmaceutical.
Kiwoom Securities and others said Hanmi Pharmaceutical had demonstrated its R&D competitiveness through the technology transfer and raised their target prices. Securities firms explained that their valuations were based on the structure of the technology transfer agreement and its royalty and milestone terms. Related disclosures and analytical reports were released together.
Hanmi Pharmaceutical shares opened higher early in the session. At one point during the day, they also maintained their upward momentum for a second consecutive session. However, the shares closed down about 6% as profit-taking took its toll near the close.
Hyundai Motor said the collaboration with Boston Dynamics is at the stage of being made more concrete. On this basis, Daol Securities set a target price for Hyundai Motor of 100ten thousand won. Further disclosures on the details of the collaboration are scheduled.
Hyundai Mobis and securities firms said the outlook for its actuator business is improving. KB Securities viewed the business positively and raised its target price. The company disclosed its business plans and technology development schedule.