Genmab price target lowered to $50 from $53 at Truist

Truist lowered the firm’s price target on Genmab to $50 from $53 but keeps a Buy rating on the shares. The firm is revising its modely with updated sales and expense forecast, though it remains positive on the stock as a “high quality name” and believes that investors should buy into the long-term growth potential, the analyst tells investors in a research note. Genmab valuation does the stock a disservice and fails to give adequate credit to the company’s established revenues, pipeline potential, and platform, Truist added.