William Blair analyst Matt Phipps has maintained their bullish stance on GMAB stock, giving a Buy rating yesterday.
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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 treatment for endometrial cancer. The initial results from the Phase I/II study have shown an impressive objective response rate (ORR) of 50% in the 100 mg/m arm and 45.5% in the 120 mg/m arm, surpassing expectations and indicating strong efficacy. Additionally, the absence of significant adverse events such as ocular toxicity, neuropathy, or interstitial lung disease further supports the potential of Rina-S as a viable treatment option.
These encouraging results have bolstered confidence in the upcoming Phase III study, which Genmab plans to initiate by the end of the year. The limited treatment options currently available for second-line plus endometrial cancer patients highlight the importance of Rina-S as a key asset for Genmab, potentially driving long-term growth. The company’s commitment to advancing this promising therapy underscores the strategic value it holds for future developments and market opportunities.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $35.00 price target.