Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on Genmab, retaining the price target of $40.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors that highlight Genmab’s promising developments in colorectal cancer treatment. The recent Phase 2 results for petosemtamab, both as a monotherapy and in combination with chemotherapy, have shown impressive objective response rates in first-line and second-line metastatic colorectal cancer patients. These results are notably superior to those observed in previous trials with other treatments, suggesting a strong potential for petosemtamab in the market.
Furthermore, the manageable side effect profile of petosemtamab, particularly its cutaneous side effects, adds to its appeal as a viable treatment option. Although the full impact of petosemtamab in later-line settings remains to be fully understood, the drug’s performance so far indicates a significant opportunity for Genmab. This potential, coupled with the absence of risk-adjusted revenues for petosemtamab in current forecasts, positions it as a potential driver of future growth, justifying the reiterated Buy rating and a 12-month price target of $40.
In another report released on October 23, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $34.00 price target.