Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on Genmab (GMAB – Research Report), reducing the price target to $37.00.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Ram Selvaraju has given his Buy rating due to a combination of factors that highlight Genmab’s strong financial performance and strategic positioning. The company reported a higher-than-expected diluted net income for 2024, alongside substantial revenue driven by the success of DARZALEX, which achieved significant worldwide sales. Despite some adjustments in their financial projections, Genmab’s robust cash reserves and profitability provide a solid foundation for future growth.
Additionally, recent developments such as the European Commission’s approval of new indications for key products and positive clinical trial results underscore Genmab’s strong pipeline and market presence. Although there were some setbacks, such as Johnson & Johnson’s decision not to license HexaBody-CD38, the overall outlook remains positive. These factors, coupled with a strategic decision to adjust the discount rate in their valuation model, support the Buy rating, even as the price target has been slightly lowered to $37.