The analyst rating for HANSOH PHARMA remains at Neutral due to the expectation of a 10% growth in both revenue and earnings for FY26, as indicated in Nomura's research report. The firm has raised its FY25 revenue and earnings forecasts by 1% and 4.7% respectively, primarily to account for higher collaboration revenue. Despite these positive adjustments, the Neutral rating suggests that analysts may see limited upside potential or are cautious about the stock's performance relative to its current valuation.