Analyst Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Genmab and keeping the price target at $40.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors, primarily focusing on the promising clinical developments in Genmab’s portfolio. The recent presentation at the ESMO meeting highlighted the efficacy of rinatabart sesutecan (Rina-S) in treating endometrial cancer, showing significant response rates in patients regardless of FRα expression levels.
These results are particularly encouraging when compared to existing treatments, such as the combination of ELAHERE and Keytruda, which demonstrated lower overall response rates. The positive outcomes from the Phase 1/2 RAINFOL-01 trial bolster confidence in the ongoing Phase 3 RAINFOL-3 trial, which could further validate Rina-S as a superior treatment option. Consequently, these developments support the reiterated Buy rating and the 12-month price target of $40.