William Blair analyst Matt Phipps has reiterated their bullish stance on GMAB stock, giving a Buy rating today.
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Matt Phipps has given his Buy rating due to a combination of factors that highlight Genmab’s strategic acquisitions and promising pipeline. The recent acquisition of Merus adds petosemtamab, a bispecific antibody with significant sales potential, to Genmab’s portfolio. This asset is in advanced stages of development for head-and-neck and colorectal cancers, contributing to a late-stage pipeline that could generate over $8 billion in annual revenue.
Furthermore, Genmab’s management is optimistic about petosemtamab’s potential, especially in head-and-neck cancer, where it has received breakthrough therapy designations. Despite concerns about the debt incurred for the acquisition, Genmab’s stock performance has been strong, supported by multiple upcoming clinical catalysts. These include pivotal data releases for other promising assets like Epkinly and Rina-S, which are expected to drive significant value in the coming years.
Phipps covers the Healthcare sector, focusing on stocks such as Upstream Bio, Inc., Bristol-Myers Squibb, and MiNK Therapeutics. According to TipRanks, Phipps has an average return of -4.6% and a 40.00% success rate on recommended stocks.
In another report released today, Leerink Partners also maintained a Buy rating on the stock with a $34.00 price target.