William Blair analyst Matt Phipps has reiterated their bullish stance on GMAB stock, giving a Buy rating on December 8.
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Matt Phipps has given his Buy rating due to a combination of factors that highlight Genmab’s promising future prospects. The company has demonstrated significant progress in its R&D pipeline, particularly with the positive results from the EPCORE FL-1 study of Epkinly, which has shown impressive progression-free survival and overall survival rates. This reinforces confidence in Epkinly’s potential and supports its recent approval.
Moreover, Genmab’s stock has shown substantial growth, outperforming the broader market, and there are several upcoming catalysts that could further enhance its value. These include pivotal readouts for Rina-S in ovarian cancer and Epkinly in frontline DLBCL, as well as potential advancements in head and neck cancer treatments. The late-stage pipeline is expected to drive long-term revenue growth, justifying the Outperform rating and the Buy recommendation.
In another report released on December 8, Guggenheim also reiterated a Buy rating on the stock with a $45.00 price target.