- RBC Capital Markets has upgraded Genmab (GMAB) to outperform from sector carry out citing its present valuation.
- The agency has a value goal of DKK 2400 (~33% upside based mostly on Monday’s shut on the Nasdaq Nordic.)
- Whereas shares have fallen ~50% from a 2022 peak, “Genmab stays one of the vital profitable European biotechnology corporations with eight accredited medicines utilizing Genmab expertise,” wrote analyst Alistair Campbell.
- Though Darzalex (daratumumab), which the corporate receives royalties from Johnson & Johnson’s (JNJ) Janssen unit on, will go away a income gap after 2029 attributable to an arbitration ruling, the corporate continues to be properly positioned.
- Campbell famous that Epkinly (epcoritamab) has been doing properly since its 2023 launch and Genmab’s pipeline exhibits promise.