RBC Capital downgraded Genmab to Sector Perform from Outperform with a price target of DKK 2,900, down from DKK 3,300. The analyst has a more cautious view on the company’s long-term value and sees few major near-term catalysts for the shares. Darzalex royalties will come to an end around the end of the decade as key intellectual property expires in major markets, the analyst tells investors in a research note. The firm says Genmab’s next wave of products is critical to ensure longevity of value.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on GMAB:
- Seagen, Genmab announce Phase 3 innovaTV 301 trial met primary endpoint of OS
- Genmab and Seagen Announce That TIVDAK® (tisotumab vedotin-tftv) Met its Primary Endpoint of Improved Overall Survival in Patients with Recurrent or Metastatic Cervical Cancer Compared to Chemotherapy
- Genmab to Present at Morgan Stanley 21st Annual Global Healthcare Conference
- Biotech Alert: Searches spiking for these stocks today
- Nvidia upgraded, Estee Lauder downgraded: Wall Street’s top analyst calls