Genmab (GMAB – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on the stock and has a $37.00 price target.
Ram Selvaraju has given his Buy rating due to a combination of factors that highlight Genmab’s strong market position and growth potential. The company’s DARZALEX franchise, including DARZALEX Faspro, has demonstrated impressive sales figures, with worldwide net sales aligning closely with expectations. This success, particularly in the U.S. market, underscores the franchise’s robust growth trajectory and its significant contribution to Genmab’s revenue.
Furthermore, recent data from clinical trials reinforce DARZALEX Faspro’s efficacy as a standard-of-care treatment for newly diagnosed multiple myeloma patients. The trials showed significantly longer progression-free survival rates when DARZALEX Faspro was used in combination with other therapies, compared to existing regimens. This solidifies Genmab’s position in the multiple myeloma treatment space and supports the company’s potential for continued success, justifying the Buy rating and optimistic price target.
Selvaraju covers the Healthcare sector, focusing on stocks such as Vanda, Axsome Therapeutics, and Anavex Life Sciences. According to TipRanks, Selvaraju has an average return of 0.0% and a 34.61% success rate on recommended stocks.
In another report released on April 21, Leerink Partners also reiterated a Buy rating on the stock with a $29.00 price target.