William Blair analyst Matt Phipps has maintained their bullish stance on GMAB stock, giving a Buy rating on May 9.
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Matt Phipps has given his Buy rating due to a combination of factors related to Genmab’s late-stage development strategy and expected commercialization of petosemtamab. He views the expansion and redesign of the Phase III second-line HNSCC trial—shifting the focus fully to overall survival and increasing enrollment—as a deliberate move to strengthen statistical power and support rigorous analyses across a heterogeneous patient population, rather than a reaction to any new safety or efficacy concerns.
He also interprets the parallel expansion of the frontline HNSCC study as management’s effort to maximize the probability of success and to generate a high-quality overall survival data package that can drive rapid uptake once approved. With both pivotal trials still on track for readouts in the second half of 2026 and potential launches in second-line-plus HNSCC in 2027 followed by first-line in 2028, Phipps sees a clear, de-risked path to value creation, supporting his positive stance on Genmab’s shares.
In another report released on May 9, Wells Fargo also maintained a Buy rating on the stock with a $40.00 price target.