Genmab price target lowered to $50 from $54 at Truist

Truist analyst Asthika Goonewardene lowered the firm’s price target on Genmab (GMAB) to $50 from $54 but keeps a Buy rating on the shares. The stock’s decline t o 52-week low is a textbook example of how nerves around a single upcoming catalyst – the potential Johnson&Johnson (JNJ) opt-in on GEN3014 – coupled with misplaced Street expectations, can distract from a healthy, revenue generating business with robust growth potential, the analyst tells investors in a research note. Truist adds that it sees an “attractive entry point” for this “high quality stock” that offers a favorable risk-reward profile.