KB Securities cuts target for Daewoong Pharmaceutical stock to KRW 200,000

Published on 10/20/2026 at 02:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

KB Securities cut its target to KRW 200,000 on October 14, 2026. Daewoong Pharmaceutical stock links to IDR 2.68 trillion in Indonesia.

Recent capital allocation and earnings

KB Securities set a KRW 200,000 target on October 14, 2026.
Daewoong Pharmaceutical planned an IDR 2.68 trillion Indonesian factory investment on October 16, 2026.
Second-quarter 2026 revenue reached KRW 448.0 billion, up 10.6 percent year over year.

Daewoong Pharmaceutical, KR7069620003, Illustration mit AI erstellt.

Daewoong Pharmaceutical (ISIN KR7069620003) faces a lower valuation benchmark after Seoul Economic Daily reported on October 15, 2026 that KB Securities cut its target to KRW 200,000 from KRW 210,000 in a report dated October 14. The brokerage retained its buy rating while lowering its earnings assumptions.

Why the target fell

KB Securities expects third-quarter 2026 separate revenue of KRW 411.8 billion and operating profit of KRW 74.7 billion, according to Seoul Economic Daily. Those estimates represent growth of 16.0 percent and 39.5 percent from the same period a year earlier, but they sit 4.4 percent and 28.7 percent below consensus.

The pressure centers on Fexuclue, a reflux treatment, after Daewoong Pharmaceutical ended a co-promotion arrangement and moved toward direct sales. KB Securities projects third-quarter prescription-drug sales of KRW 216.8 billion, down 3.8 percent year over year, while Nabota sales are forecast at KRW 115.5 billion, up 107.7 percent.

What does Indonesia mean for growth?

Financial News reported on October 16, 2026 that Daewoong Pharmaceutical plans to invest IDR 2.68 trillion in a smart factory in Cikarang. The facility is designed for solid-dose medicines, with Indonesian GMP approval targeted for July 2027.

The investment adds a manufacturing and technology-transfer angle to the valuation debate. Local production could support Daewoong Pharmaceutical's Indonesian expansion, while the near-term earnings picture still depends on Fexuclue prescriptions and Nabota shipment timing.

Three recent milestones

ATS View lists three dated developments: on October 14, 2026, the company advanced a microneedle manufacturing facility targeting GMP approval in the first half of 2027; on October 15, KB Securities lowered its target to KRW 200,000; and on October 16, the Indonesian factory plan carried an IDR 2.68 trillion investment figure.

Next dates for investors

The Indonesian facility carries a July 2027 GMP target, while ATS View lists November 16, 2026 as the filing deadline for the third-quarter report. The dates frame the next operational and reporting checkpoints after the target-price cut.

Profit growth meets execution risk

Daewoong Pharmaceutical reported second-quarter 2026 revenue of KRW 448.0 billion, up 10.6 percent year over year, and operating profit of KRW 68.1 billion, according to ATS View. The result gives the expansion plans a stronger operating base, but the third-quarter estimates show why product transitions remain central to the investment case.