On July 20, PhillipCapital initiated coverage on Hyphens Pharma with a call to “accumulate” and target price of 43.5 cents. Analyst Tay Wee Kuang notes that the company is the sole regional product owner of a portfolio of products, in partnership with brands such as Sofibel and Guerbet. In addition, the company is also developing its own suite of dermatological and health supplement products through its brands Ceradan, TDF and Ocean Health, which is sold in Guardian and Watson’s.
Tan Chwee Choon, an executive director of Hyphens Pharma International, has been steadily selling shares on the open market. The most recent sale was made on July 22 when he sold 500,000 shares for $300,000, or an average price of 60 cents each. With this sale, he is now left with around 38.45 million shares, or 12.8%, down from 12.96% previously.
Previously, Tan had sold two million shares at 44.49 cents each on July 14; 1.34 million shares at 33 cents each on June 23; 500,000 shares at 38.5 cents each on June 2 and one million shares at 33 cents each on June 1.
