H.C. Wainwright analyst Ram Selvaraju has reiterated their bullish stance on GMAB stock, giving a Buy rating on October 13.
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Ram Selvaraju has given his Buy rating due to a combination of factors that highlight Genmab’s strong market position and growth potential. The recent sales figures for DARZALEX, including DARZALEX Faspro, exceeded both the firm’s and consensus estimates, indicating robust demand and market penetration. This strong performance, particularly in the U.S. market, underscores Genmab’s solid footing in the multiple myeloma treatment arena.
Moreover, Genmab’s financial health, characterized by profitability and a strong balance sheet, positions it well to navigate potential challenges in the biotech sector. The company’s diverse pipeline, with several promising candidates and upcoming clinical data catalysts, further supports the Buy rating. While the potential of petosemtamab in metastatic colorectal cancer remains uncertain due to limited data, its future prospects could enhance Genmab’s valuation. The analyst’s valuation model, incorporating a DCF-based approach and various probabilities of approval for Genmab’s pipeline products, supports a 12-month price target of $40 per share.
In another report released on October 13, Leerink Partners also reiterated a Buy rating on the stock with a $39.00 price target.