Sumitomo Pharma rises against the market as major domestic securities firm raises target price to 2,600 yen
Sumitomo Pharma Co., Ltd. <4506> shares bucked the broader market trend to trade higher on Monday, with the stock price temporarily surging approximately 9.00% from Friday's close. On Friday, Daiwa Securities raised its target price for the shares to 2,600 yen from 1,900 yen, while maintaining its "2 (Outperform)" rating, the second-highest on its five-level scale. The brokerage upwardly revised its earnings forecasts for Sumitomo Pharma, lifting sales projections for products such as prostate cancer treatment Orgovyx and overactive bladder treatment Gemtesa, which both exceeded the firm's forecasts for the fiscal year ended March 2026. The firm expects a consolidated net profit of 86.30 billion yen for the fiscal year ending March 2027, compared with the company's guidance of 77.00 billion yen.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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