Bernstein analyst Justin Smith upgraded Genmab (GMAB) to Market Perform from Underperform with a DKK 1,580 price target The firm increased its long term earnings forecasts by over 100% citing the company’s “two promising drugs” that have now entered Phase 3. Bernstein believes the share price is discounting nothing for the potential of Phase 2 asset GEN-3014/Hexabody-CD38 in myeloma. Hence, if Johnson & Johnson (JNJ) opts into the development of this drug in Q1, this would be a significant catalyst for Genmab, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GMAB:
- Genmab announces results from ongoing clinical trials of epcoritamab
- Genmab announces new results from Phase 1b/2 EPCORE NHL-2 trial
- Genmab A/S Expands Share Capital and Warrants
- Genmab Increases Capital Through Employee Warrant Exercise
- Genmab price target lowered to DKK 1,700 from DKK 2,050 at JPMorgan