Truist analyst Asthika Goonewardene lowered the firm’s price target on Genmab (GMAB) to $45 from $50 but keeps a Buy rating on the shares. J&J (JNJ) has opted out of GEN3014, but while this is not the optimal outcome, it puts the biggest sentiment overhang on the stock in the rear-view mirror, the analyst tells investors in a research note. Investors will now be able to appreciate Genmab’s strong fundamentals and pipeline, the firm adds.
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