H.C. Wainwright lowered the firm’s price target on Genmab (GMAB) to $35 from $37 and keeps a Buy rating on the shares following the Q1 report. The firm continues to believe that the company is “well situated to weather further attrition” in the biotech sector because of its track record of profitability, strong balance sheet, solid positioning in the multiple myeloma arena, and broad pipeline with potential for numerous near- and medium-term clinical data catalysts.
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