William Blair analyst Matthew Phipps last night upgraded Genmab (GMAB) to Outperform from Market Perform without a price target. after the company announced that Johnson & Johnson (JNJ) decided to not opt in to development of GEN3014. Getting past the “highly anticipated” J&J decision and expected share pullback now allows investors to focus on Genmab’s pipeline and potential blockbusters including Epkinly, Rina-S, and acasulimab, the analyst tells investors in a research note. William Blair cites the company’s “steady cadence” of Phase III readouts beginning in 2026 and potential for nearly $6B in revenues in 2032, the first full year post-Darzalex royalties, for the upgrade.
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Read More on GMAB:
- Genmab upgraded to Outperform from Market Perform at William Blair
- Expectations for J&J Genmab opt-in lowered ahead of news, says Morgan Stanley
- JPMorgan expects ‘significant’ underperformance of Genmab shares
- Genmab’s HexaBody-CD38 Development Halted After J&J Decision
- Genmab says J&J not exercising option on HexaBody-CD38
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