William Blair analyst Matt Phipps has maintained their bullish stance on GMAB stock, giving a Buy rating on May 22.
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Matt Phipps has given his Buy rating due to a combination of factors related to Genmab’s promising developments in their Rina-S drug for endometrial cancer. The initial results from the Phase I/II study presented at the ASCO Annual Meeting showed an impressive overall response rate (ORR) of 50% in the 100 mg/m arm and 45.5% in the 120 mg/m arm, which exceeded expectations. These results are particularly significant given the limited treatment options available for second-line plus endometrial cancer, enhancing confidence in the upcoming Phase III study.
Furthermore, the absence of serious side effects such as ocular toxicity, neuropathy, or interstitial lung disease in the study strengthens the potential of Rina-S as a viable treatment option. Genmab’s commitment to advancing to a Phase III study by the end of the year, coupled with the strong initial data, positions Rina-S as a key asset for the company’s long-term growth. These factors collectively contribute to Phipps’s optimistic outlook on Genmab’s stock, warranting a Buy recommendation.
According to TipRanks, Phipps is an analyst with an average return of -10.5% and a 34.40% success rate. Phipps covers the Healthcare sector, focusing on stocks such as Genmab, Incyte, and Merus.
In another report released on May 22, H.C. Wainwright also reiterated a Buy rating on the stock with a $35.00 price target.