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ILLUSTRATION. The price of pharmaceutical stocks rose to double digits in the five business days of 2021.
Reporter: Kenya Intan | Editor: Wahyu T. Rahmawati
KONTAN.CO.ID – JAKARTA. The Food and Drug Supervision Agency (BPOM) officially grants an emergency use permit or emergency use authorization (USA) for the corona virus (Covid-19) Sinovac vaccine, Monday (1/11). This news confirms the surge in pharmaceutical stock prices that have occurred since early 2021.
Citing data from Bloomberg, pharmaceutical stocks even rose to double digits. The most significant strengthening was experienced by the state pharmaceutical issuer, PT Indofarma Tbk (INAF), which simultaneously year to date (ytd) or in five business days this year was up 55.09% to Rs 6,250 per share. This was followed by another state-owned pharmaceutical issuer, PT Kimia Farma Tbk (KAEF), which increased 51.76% year-on-year to Rs 6,450.
PT Pyridam Farma Tbk (PYFA) and PT Phapros Tbk (PEHA) also experienced price increases, which increased respectively 37.44% year-on-year and 46.9% year-on-year to Rp 1,340 and Rp 2,490.
Meanwhile, the share price of PT Tempo Scan Pacific Tbk (TSPC) was up 42.14% year-on-year to Rs 1,990. Followed by PT Kalbe Farma Tbk (KLBF), which increased 18.92% year-on-year to 1,760.
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Watching pharmaceutical stocks rise, Infovesta investment research director Utama Wawan Hendrayana did not deny that the US license for BPOM’s Sinovac vaccine was a dominant factor. “It means that investor expectations for this vaccine are huge,” Wawan told Kontan.co.id on Monday (1/11).
He added that vaccination is considered a positive catalyst. With vaccination, the Covid-19 pandemic can be controlled so that the opportunities for people to return to activities are better than what has happened so far. Finally, there will be economic improvements that will impact the increase in the issuer’s income.
Regarding the significant increase in pharmaceutical stocks, Wawan revealed that investors should be aware of this. This is because a significant price increase has the potential to correct itself in the future. Meanwhile, Wawan saw that the stock price movement was just euphoria and the impact on the financial performance of pharmaceutical companies was unclear.
“How big will the increase in revenue be, that’s the first. Second, to hold or not in the long term. You can’t really see it, it’s still a guess. “Wawan therefore notes that the valuation of the pharmaceutical stock price is actually already expensive.
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