External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives.

External broker reports(aggregated public sources)

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives

Equity Bottom-Up

<ul><li>We maintain our Buy rating on LigaChem Biosciences (LigaChem) and raise our target price by 35% to W230,000 (from W170,000).</li><li>Our target price is based on the sum of the values of six pipeline items, which were revised to reflect a change in our USD/KRW rate assumption (from 1,355 to 1,450) and a shift in our valuation base year (from 2025 to 2026).</li><li>We valued LCB14 (HER2-targeting ADC; regulatory filing in China expected in 2026) at W1.47tr and LCB84 (Trop2-targeting ADC; phase 1 trials to be completed as early as 2026) at W1.95tr.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We maintain our Buy rating on LigaChem Biosciences (LigaChem) and raise our target price by 35% to W230,000 (from W170,000).Our target price is based on the sum of the values of six pipeline items, which were revised to reflect a change in our USD/KRW rate assumption (from 1,355 to 1,450) and a shift in our valuation base year (from 2025 to 2026).We valued LCB14 (HER2-targeting ADC; regulatory filing in China expected in 2026) at W1.47tr and LCB84 (Trop2-targeting ADC; phase 1 trials to be completed as early as 2026) at W1.95tr.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

LigaChem Biosciences (141080 KQ/Buy)Clinical Data to Watch in 2026

Legochem Biosciences

LigaChem Biosciences (141080 KQ/Buy)Clinical Data to Watch in 2026