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KGI upgrades Hyphens Pharma to ' outperform' after Q1 comeback
KGI Securities has upgraded its call on Catalist-listed Hyphens Pharma from " neutral" to " outperform" with a higher target price of S$0.43 compared to S$0.36 previously, upon rolling forward estimates to base its valuation off FY2022 forecasts.In a Monday report, KGI analysts said they see potential upside for the stock' s base case price-to-earnings (P/E) ratio of 17 times, as its mature competitors are maintaining a P/E average and forward P/E average of 19.9 times and 25.5 times, respectively.
While Hyphens' FY2020 results fell short of expectations, KGI' s analysts are positive on the group' s strong turnaround in Q1 FY2021, which saw a 7.5 per cent year-on-year increase in revenue due to a pickup in the group' s Vietnam segment.
This led to the group delivering its highest-ever quarterly sales for the period with its profit margin hitting 6.3 per cent.
" However, for H2 FY2021, we might not see the results of H1 FY2021 being replicated as Covid-19 cases started surging in the end May 2021. Hyphens may also face operational difficulty in H2 FY2021/H1 FY2022 as their inventory in Vietnam runs low and distribution agreement renewals continue to be delayed," they cautioned.
The analysts nonetheless continue to like Hyphens for its growing portfolio of high-margin proprietary brands, along with its subsidiary' s recent e-pharmacy licence to provide telemedicine services as well as partnerships with online business-to-consumer (B2C) platforms for the sale of its proprietary products.
With continued expansion of the group' s medical hypermart and digital business this year, coupled with the rising trend in telehealth services, KGI is expecting these segments to contribute to the group' s topline growth going forward.
The analysts also highlight e-commerce as a growing trend which they believe will support consistent income generation from the B2C online sales segment.
" Hyphens proprietary brands segment saw 26 per cent growth from FY2019 to FY2020, representing the most significant jump over the last four years," they noted.
" The Ocean Health brand did remarkably well under the influence of the Covid-19 pandemic as consumers purchased a higher volume of vitamins than usual for immunity purposes&hellip We foresee a continuity of this trend in the short and mid-term, considering that the pandemic is evolving into an endemic and hence a continued demand for supplements."
Shares of Hyphens Pharma were up one Singapore cent or 3.2 per cent at 32.5 cents as at 11.04am on Monday.
got news on self test kits?
Wow 10% up this morning...yeah does anyone know something is brewing?
Any reason why this share suddenly saw increased volume with increasing share price
from FY2020 results :
" Impact from COVID-19
The recovery of market demand in the regions had been inconsistent and unpredictable, and any further lockdown measures implemented is expected to have a negative impact on the Group&rsquo s business."
above emphasis mine .... so intensifying covid seems to affect the company adversely. imho, ocean health doesn' t contribute much to the co' s bottom line, and most ocean health sales seems to be mostly in SG...
" Impact from COVID-19
The recovery of market demand in the regions had been inconsistent and unpredictable, and any further lockdown measures implemented is expected to have a negative impact on the Group&rsquo s business."
above emphasis mine .... so intensifying covid seems to affect the company adversely. imho, ocean health doesn' t contribute much to the co' s bottom line, and most ocean health sales seems to be mostly in SG...
TodaySgCny ( Date: 30-May-2021 12:11) Posted:
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Covid cases increases in few countries eg.Vietnam,Thailand,Malaysia etc.Vitamins consumption increases.This coming week or month start medical counter uptrend.Can monitor first.
xKaiseRx ( Date: 17-May-2021 16:21) Posted:
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Coming??
xKaiseRx ( Date: 17-May-2021 10:18) Posted:
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Thanks bro.. will take note...
SgYuan ( Date: 14-May-2021 16:37) Posted:
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w4 350 breakdown
wabc come
wc 290 px hit 285
px 290 must not breach again
if breach change to w3 dn
now w1 310 need to break up day conversion 300
w2 295 cannot break down
then got chance
wabc come
wc 290 px hit 285
px 290 must not breach again
if breach change to w3 dn
now w1 310 need to break up day conversion 300
w2 295 cannot break down
then got chance
.
Support somemore at 325. Hee
Ooh.... someone just one shot makan 300k of shares at 32-34..... insider trading??
Hiaz sold this af a loss
Seems like one day wonder
Hi All, Did you all see this news today (8 Jan 20)
Hyphens Pharma awarded e-pharmacy license for WellAway Pharmacy. :)
Hyphens Pharma awarded e-pharmacy license for WellAway Pharmacy. :)
The show is beginning here...
If afternoon can hit 0.34 -0.345.
Am holding for tgt 0.42
Sgvale ( Date: 29-Dec-2020 15:03) Posted:
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Hyphens follows IX biopharma. Ai lai liao
guards80 ( Date: 29-Dec-2020 18:46) Posted:
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oh that why IX biopharma go up.
Sgvale ( Date: 29-Dec-2020 09:29) Posted:
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