Stock Deep Dive · 2026-07-23
Alteogen (196170) closed at ₩306,500, up 14.37% on the day. Year-to-date return is -31.8%, sitting at 17% of its 52-week range. Listed in Seoul — for USD-based investors, KRW moves add an FX layer on top of the stock’s local return.
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Close
₩306,500
+14.37% · YTD -31.8%
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Market Cap
₩16.40T
Biotechnology
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Forward P/E
40.8x
PER 126.0x
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52-wk Range
17%
High ₩569,000 · Low ₩253,000
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🔍 At a Glance
Alteogen just staged a dramatic 14.37% single-day jump — strong enough to trigger a KOSDAQ buy-side circuit breaker alongside EcoPro BM — yet the stock remains down 31.8% YTD and sits near the bottom of its 52-week range (17th percentile), still 24.7% below its 200-day moving average. Bulls point to a 41.8% TTM operating margin, 25.2% ROE, and a diversified biobetter/ADC pipeline (ALT-P1, ALT-Q2, ALT-P7, ALT-Q5, ALT-L9 with Kissei) that justifies premium multiples; bears note revenue actually fell 14.5% YoY last quarter and valuation remains extreme — PER 126x, forward PER 40.8x, EV/EBITDA over 150x — leaving little room for disappointment.
🏢 How It Makes Money
Alteogen generates revenue from platform licensing and biobetter/ADC development, notably its NexP long-acting and NexMab conjugation technologies. Partnerships like the Kissei alliance on ALT-L9 (an Eylea biosimilar) and other undisclosed deals (including Cristalia) drive milestone and royalty-style income rather than product sales, explaining the high margins despite modest ₩203.8B TTM revenue.
📈 Quarterly Results — Is Business Growing?
| Quarter | Revenue | Op. Income | Net Income | Op. Margin |
|---|---|---|---|---|
| 25Q1 | ₩83.7B | ₩61.0B | ₩83.2B | 72.9% |
| 25Q2 | ₩18.6B | ₩-0.4B | ₩-33.1B | -2.3% |
| 25Q3 | ₩49.0B | ₩26.7B | ₩22.3B | 54.4% |
| 25Q4 | ₩64.5B | ₩19.6B | ₩69.2B | 30.4% |
| 26Q1 | ₩71.6B | ₩39.3B | ₩71.7B | 54.9% |
Latest-quarter revenue down -14.5% versus the same quarter a year ago.
💡 Korea Market 101
⚖️ Valuation — Cheap or Expensive?
| Metric | Value | How to read it |
|---|---|---|
| P/E (trailing) | 126.0x | Price vs last 12 months’ earnings |
| P/E (forward) | 40.8x | Price vs next 12 months’ expected earnings — growth hopes baked in |
| P/S | 80.5x | Price vs revenue — for high-growth names with thin profits |
| P/B | 36.8x | Price vs book value — below 1x means priced under liquidation value |
| EV/EBITDA | 150.7x | Enterprise value (incl. debt) vs cash generation |
Peer comparison
| Name | Mkt Cap | P/E | Fwd P/E | P/S |
|---|---|---|---|---|
| Alteogen | ₩16.40T | — | 40.8x | 80.5x |
| Celltrion | ₩39.49T | — | 23.6x | 8.8x |
| SAMSUNG BIOLOGICS | ₩63.84T | — | 28.1x | 13.3x |
💡 Korea Market 101
🎯 Street Consensus
- Price target (mean): ₩458,000
- Target high / low: ₩620,000 / ₩250,000
- Implied upside: +49.4%
- Rating: none
- Analysts covering: 5
💡 Korea Market 101
📉 Price Action — Technical Check
| Indicator | Value | How to read it |
|---|---|---|
| RSI (14d) | 39.2 | Above 70 overbought · below 30 oversold |
| vs 60-day MA | -10.9% | Above/below the medium-term trend |
| vs 200-day MA | -24.7% | Above/below the long-term trend |
| Golden/death cross | 50-day below 200-day (bearish alignment) | 50-day MA crossing above (golden) or below (death) the 200-day |
| Volume (vs 20d avg) | 1.1x | 2x+ means a spike in market attention |
💡 Korea Market 101
📰 Recent News
- KOSDAQ Buy-Side Circuit Breaker Triggers Alteogen, EcoPro BM Surge — 조선일보
- Alteogen (196170) Stock Forecast & Price Target — Investing.com
- Price to earnings forward of ALTEOGEN Inc. – KRX:196170 — TradingView
- KOSDAQ Climbs 3% as Biotech Stocks Lead, Outpacing Chips — Seoul Economic Daily
- SK Hynix, SK Square, SK Telecom, LG Electronics, and LS were the most net buyers by high-yield inves.. — 매일경제
- ‘KOSDAQ Leader Over KOSPI’… Why Alteogen Chose to Stay — 아시아경제
💡 Korea Market 101
🔭 Scenarios & What to Watch
Today’s rally reflects broader KOSDAQ biotech momentum, not necessarily company-specific news — worth confirming whether it’s driven by clinical or partnership catalysts. RSI at 39.2 suggests the stock isn’t yet overbought despite the spike. With consensus targets spanning ₩250,000–620,000 (avg ₩458,000, 5 analysts), the gap versus current price highlights wide uncertainty. Watch for pipeline updates (ALT-P1, ALT-P7 trials) and next quarterly results, which could either validate the bounce or reinforce recent revenue softness.
💡 Korea Market 101
📚 All stock analysis · More on Alteogen · Market report for this session
Auto-generated stock report · 2026-07-23 16:00 KST
For information only — a summary of public data, not a recommendation to buy or sell any security. Source data (Yahoo Finance and others) may be delayed or contain errors. All investment decisions are your own responsibility.
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