As previously reported, Guggenheim analyst Michael Schmidt upgraded Genmab (GMAB) to Buy from Neutral with a $43 price target, citing increased conviction in Epkinly’s outlook for the treatment of aggressive and indolent lymphomas. The asset, partnered with AbbVie (ABBV), has “multi-billion” revenue potential that is underappreciated by the Street, says the analyst, who believes growth concerns post-Darzalex patent exclusivity loss are now fully reflected in Genmab’s valuation, but not near-term upside potential to Street estimates for royalty revenue.
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Read More on GMAB:
- Genmab upgraded to Buy from Neutral at Guggenheim
- Genmab price target raised to DKK 1,650 from DKK 1,500 at JPMorgan
- Genmab A/S Updates Articles of Association to Boost Financial Flexibility
- Genmab Announces Capital Increase Following Employee Warrant Exercise
- Genmab price target raised to DKK 1,900 from DKK 1,750 at Deutsche Bank