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Genmab price target raised to $34 from $32 at Leerink

Leerink analyst Jonathan Chang raised the firm’s price target on Genmab (GMAB) to $34 from $32 and keeps an Outperform rating on the shares. The company’s acquisition of Merus (MRUS) is a long-term positive and helps address a key investor concern, the analyst tells investors in a research note. The firm says the deal brings petosemtamab, a potential “first- and best-in-class” EGFR x LGR5 bispecific antibody to Genmab ‘s existing late-stage pipeline.

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