Truist analyst Asthika Goonewardene raised the firm’s price target on Genmab (GMAB) to $49 from $46 and keeps a Buy rating on the shares. The company’s proposed acquisition of Merus (MRUS) announced earlier last week gives it full rights to petosemtamab, an EGFR LGR5 bispecific, currently in two Phase 3 trials in head and neck cancer, with topline interim readout of one or both trials anticipated in 2026 and beyond, the analyst tells investors in a research note. Importantly, Peto adds a largely derisked $1.8B topline contribution in 2029 in Head & Neck cancer, which provides a “very nice offset” to the expected Darzalex royalty decline, the firm added.
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