Jonathan Chang, an analyst from Leerink Partners, reiterated the Buy rating on Genmab (GMAB – Research Report). The associated price target remains the same with $29.00.
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Jonathan Chang has given his Buy rating due to a combination of factors that highlight Genmab’s strong financial performance and promising pipeline developments. The company’s first-quarter revenues exceeded expectations, driven by increased royalties from key partnerships, including Darzalex, Kesimpta, and Epkinly. This revenue growth underscores Genmab’s robust business model and successful collaborations with major pharmaceutical companies.
Additionally, Genmab’s pipeline shows significant promise with recent positive results from the Phase III EPCORE FL-1 trial and regulatory approvals for Tivdak in Japan and Europe. The upcoming data presentations and regulatory submissions for their late-stage programs, such as Rina-S and acasunlimab, further bolster the company’s growth prospects. These factors collectively support a positive outlook for Genmab, justifying the Buy rating.
According to TipRanks, Chang is an analyst with an average return of -13.3% and a 27.58% success rate. Chang covers the Healthcare sector, focusing on stocks such as Zai Lab, Genmab, and Nanobiotix.