POLYPEPTIDE: Early praise is "ripening"!

After re-entering POLYPEPTIDE on November 20, 2025 (at CHF 23.40), we wrote on December 4, 2025: "We are setting an initial price target of CHF 29.50... with a tendency to increase!" This statement now applies: We are raising our price target to CHF 33... where we will then switch to profit-taking mode! For a long time, the peptide manufacturer's stock flew somewhat under the radar due to profit warnings and other unresolved issues, but not for us. The questions are: Will the enormous investments in expanding production capacity soon bear fruit? Can the goal of doubling sales from 2023 to 2028 be achieved? Can sustainable value finally be created for shareholders? If CEO Juan José González has his way, the answer to all these questions is "yes"! In the 2025 half-year report, the direction is right with a 23% increase in sales and a 50% increase in operating profit to EUR 4.4 million. Nevertheless, earnings per share fell to EUR -0.80, following a loss of EUR 0.35 in 1H24. Next March, we will see how the annual results ultimately turn out... and what the answers are in the outlook. Basically, POLYPEPTIDE is on the right track, even if the issue of obesity has been somewhat curtailed. But POLYPEPTIDE has a large number of other projects in phase III that also guarantee a certain degree of investment security in the longer term. The stock is likely to continue to fluctuate, but it cannot be ruled out that it will be able to build on the "good old days" of 2022 – before the profit warnings.

However, we do not want to be influenced by the CEO's targets or "hypotheses," even though POLYPEPTIDE shares could well become a long-term growth stock. We are sticking to our new price and sales target of CHF 33!