Genmab A/S: Promising Growth Prospects with Strategic Catalysts and Robust Pipeline

Charlie Haywood, an analyst from Bank of America Securities, maintained the Buy rating on Genmab A/S. The associated price target is DKK2,250.00.

Charlie Haywood has given his Buy rating due to a combination of factors that highlight Genmab A/S’s promising future growth prospects. The company is expected to benefit from three significant catalysts in FY26, which are anticipated to enhance earnings before interest and taxes (EBIT) growth following the loss of exclusivity for Darzalex. These catalysts include promising trial results for Epkinly in first-line diffuse large B-cell lymphoma, Rina-S in second-line platinum-resistant ovarian cancer, and Peto in first-line head and neck squamous cell carcinoma, collectively projected to achieve peak sales of $5 billion.
Furthermore, the initial pivotal data from Rina-S and Peto trials could validate their mechanisms, potentially leading to additional peak sales exceeding $5 billion. Genmab’s risk-adjusted pipeline is considered robust enough to counterbalance the anticipated EBIT loss from Darzalex royalties. The company’s strategic focus on transitioning to a wholly-owned model, coupled with its strong execution in commercializing Epkinly in the US, underpins the confidence in its growth trajectory. Additionally, Genmab’s competitive positioning is strengthened by its advanced data readiness, which is expected to be more than two years ahead of its competitors.