Drugmaker Celltrion Surpasses Hyundai Motor in Market Value | Be Korea-savvy

Drugmaker Celltrion Surpasses Hyundai Motor in Market Value

C0A8CA3D000001537E422FA000177CC_P4SEOUL, Jan. 8 (Korea Bizwire) – Drugmaker Celltrion Inc.’s stock has made significant gains in recent days, surpassing Hyundai Motor Co. in terms of market value, data showed Monday.

Celltrion shares jumped 55.12 percent over the past 7 trading sessions to 302,500 won (US$283.29) on Monday closing, pushing the company’s capitalization to a record 37.1 trillion won.

Hyundai Motor’s market capitalization stood at 33.2 trillion won as of Monday closing.

Celltrion’s stock has already exceeded target prices by brokerages.

The surge in Celltrion’s stock price came as the company is scheduled to move to the benchmark KOSPI market next month from the junior KOSDAQ market. 

Hong Ka-hye, an analyst at Daishin Securities, said foreign investors have snapped up Celltrion shares in recent trading sessions.

Analysts expected shares of Celltrion to rise further as the company is likely to win government approval for more new products going forward.


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