Genmab initiated with an Outperform at Wolfe Research

Wolfe Research initiated coverage of Genmab (GMAB) with an Outperform rating and $32 price target The company is facing a “critical” loss of exclusivity in 2029, but should fully replenish sales by 2031 with its pipeline, the analyst tells investors in a research note. Wolfe believes Genmab’s recent stock weakness is a “buy the dip” opportunity ahead of key clinical catalysts in 2026.