Genmab price target lowered to DKK 2,000 from DKK 2,300 at RBC Capital

RBC Capital lowered the firm’s price target on Genmab (GMAB) to DKK 2,000 from DKK 2,300 and keeps an Outperform rating on the shares. The firm is updating its model after Q1 results, with minimal underlying changes but now incorporating an updated USD-DKK exchange rate which significantly lowers royalty income on U.S. sales in DKK terms, the analyst tells investors in a research note.