Shares of Neimeth International Pharmaceuticals Plc have risen by over 32% in the third week of January 2025, pushing its month-to-date performance to over 50%.
This increase follows the company’s late October earnings report for the period ending September 30, 2024, revealing a pretax profit of N310 million, a recovery from the previous year’s N575 million loss.
For the nine-month period, revenue reached N3 billion—a 104.8% increase from N1.5 billion the previous year—driven primarily by pharmaceutical products, which accounted for 96.5% of total turnover, while animal health contributed 3.5%.
Neimeth also strengthened its profits with ‘other income’ amounting to N134.5 million, where interest income accounted for 70.5% and lease rental income contributed 16%.
The recent surge in share price is likely due to the positive earnings report in October, along with a series of director transactions that occurred since November.
As of January 16, the company’s shares have surged over 50% month-to-date, accompanied by a trading volume of 23 million shares.
Neimeth Pharmaceuticals kicked off January 2024 with a share price of N1.94, navigating a market volume of 55 million shares before closing the month at N1.90.
As January 2025 progresses, the bullish trend intensifies, with the company breaking the N3 barrier and surging over 50% month-to-date, supported by a monthly market volume of 23.5 million shares.
Several factors may have contributed to the recent increase in Neimeth Pharmaceuticals’ share price:
After the release of the financial report in October 2024, the company’s stock experienced a market volume of 19.4 million, crossing the N2 threshold to close at N2.29.
He stated, “We are confident we will be able to hit our targets and create sustainable value for our shareholders.”