Leerink Partners analyst Jonathan Chang has reiterated their bullish stance on GMAB stock, giving a Buy rating on March 11.
Jonathan Chang’s rating is based on Genmab’s strong track record of success and the promising potential of its late-stage pipeline. Despite the recent decision by JNJ not to exercise its option for GEN3014, Chang views the current stock levels as attractive due to Genmab’s ability to drive significant revenue growth with other projects. The company’s strategic focus on long-term development plans, particularly with Epkinly, Rina-S, and acasunlimab, is expected to contribute to substantial revenue by the end of the decade.
Furthermore, while GEN3014 demonstrated deeper responses compared to Darzalex Faspro, it was associated with a less favorable safety and tolerability profile. This outcome aligns with Chang’s previous analysis, and while it may cause short-term volatility, the overall outlook remains positive. Chang believes that the company’s strategic decisions and robust pipeline will support its growth trajectory, justifying the Buy rating.
Chang covers the Healthcare sector, focusing on stocks such as Replimune Group, Kura Oncology, and Mersana Therapeutics. According to TipRanks, Chang has an average return of -10.9% and a 29.94% success rate on recommended stocks.
In another report released on March 11, Truist Financial also maintained a Buy rating on the stock with a $45.00 price target.