Leerink Partners analyst Jonathan Chang has reiterated their bullish stance on GMAB stock, giving a Buy rating today.
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Jonathan Chang’s rating is based on Genmab’s strategic focus on long-term revenue growth and its robust clinical pipeline. The company has historically benefited from royalties on Darzalex, a significant revenue driver, and is now concentrating on advancing its late-stage clinical programs, including epcoritamab and Rina-S.
Epcoritamab is already approved for certain lymphoma treatments and is being tested for earlier use, while Rina-S has shown promising results in ovarian and endometrial cancers. These developments, along with management’s insights on future strategies, bolster confidence in Genmab’s potential for sustained growth, making it a compelling investment opportunity.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $36.00 price target.
GMAB’s price has also changed slightly for the past six months – from $21.300 to $22.980, which is a 7.89% increase.