Genmab (GMAB) AI Stock Analysis

• Market Cap: $17.60B
• Dividend Yield: N/A
• Average Volume (3M): 1.36M
• Price to Earnings (P/E): 14.2
• Beta (1Y): 0.51
• Revenue Growth: 23.25%
• EPS Growth: 64.46%
• Country: US
• Employees: 2,638
• Sector: Healthcare
• Sector Strength: 51
• Industry: Biotechnology
• EPS (TTM): 0.54
• Shares Outstanding: 641,588,130
• 10 Day Avg. Volume: 1,591,262
• 30 Day Avg. Volume: 1,360,104
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.57
• Enterprise Value/Revenue: 0.44
• Enterprise Value/Gross Profit: 0.46
• Enterprise Value/Ebitda: 1.30
• 1Y Price Target: $32.75
• Price Target Upside: 17.72% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7

• Rating: 82 Outperform
• Price Target: $28.00 ▲(0.65% Upside)

Genmab's overall stock score is driven by strong earnings call results and positive technical indicators, highlighting robust growth prospects and market momentum. The company's solid financial performance, despite recent revenue and cash flow challenges, supports its stability. Valuation metrics suggest the stock is undervalued, offering potential upside. The absence of significant corporate events does not impact the score.

Positive Factors

Innovative Product Pipeline

The FDA's Breakthrough Therapy Designation for rinatabart sesutecan underscores Genmab's innovative pipeline, potentially accelerating development and approval, enhancing long-term growth prospects.

Revenue Growth

The raised revenue guidance reflects confidence in sustained growth, driven by strong product sales and strategic investments, supporting long-term financial health.

Strong Financial Performance

Robust revenue and profit growth indicate effective cost management and market demand, reinforcing Genmab's competitive position and financial stability.

Negative Factors

Revenue Decline

The recent revenue decline poses a risk to profitability, potentially impacting long-term financial performance if not addressed through strategic initiatives.

Cash Flow Challenges

Decreased free cash flow growth may constrain Genmab's ability to invest in R&D and strategic initiatives, affecting long-term innovation and growth potential.

Regulatory Environment Concerns

Potential regulatory hurdles could delay product approvals, impacting market entry timelines and revenue generation, posing a risk to strategic growth plans.

Genmab Business Overview & Revenue Model

Company Description

Genmab A/S develops antibody therapeutics for the treatment of cancer and other diseases primarily in Denmark. The company markets DARZALEX, a human monoclonal antibody for the treatment of patients with multiple myeloma (MM); teprotumumab for the treatment of thyroid eye disease; ofatumurnab, a human monoclonal antibody to treat chronic lymphocytic leukemia (CLL) and multiple sclerosis; and Amivantamab for advanced or metastatic gastric or esophageal cancer and NSCLC. Its products include daratumumab to treat MM, non-MM blood cancers, and AL amyloidosis; GEN1047; tisotumab vedotin for treating cervical, ovarian, and solid cancers; DuoBody-PD-L1x4-1BB, and DuoBody-CD40x4-1BB for treating solid tumors; Epcoritamab for relapsed/refractory diffuse large B-cell lymphoma and chronic lymphocytic leukemia; and HexaBody-CD38 and DuoHexaBody-CD37 for treating hematological malignancies. The company's also develops products, which is in Phase 2 comprise Teclistamab for vaso-occlusive crises; Camidanlumab tesirine to treat hodgkin lymphoma and solid tumors; JNJ-64007957 and JNJ-64407564 to treat MM; PRV-015 for treating celiac disease; Mim8 for treating haemophilia A; and Lu AF82422 for treating multiple system atrophy disease. In addition, it has approximately 20 active pre-clinical programs. The company has a commercial license and collaboration agreement with Seagen Inc. to co-develop tisotumab vedotin. It also has a collaboration agreement with CureVac AG for the research and development of differentiated mRNA-based antibody products; AbbVie for the development of epcoritamab; and collaborations with BioNTech, Janssen, Novo Nordisk A/S, BliNK Biomedical SAS, and Bolt Biotherapeutics, Inc. Genmab A/S was founded in 1999 and is headquartered in Copenhagen, Denmark.

How the Company Makes Money

Genmab primarily generates revenue through a combination of product sales, royalties, and collaboration agreements. The company's flagship product, Darzalex, has become a significant source of income since its approval, generating substantial sales revenue as it is used in various cancer treatments. In addition to product sales, Genmab earns royalties from the commercialization of its products by partners, particularly in the case of Darzalex, which is marketed by Janssen Biotech. Furthermore, Genmab engages in strategic partnerships and licensing agreements with other pharmaceutical companies, which provide upfront payments, milestone payments based on clinical development progress, and additional royalties on future sales. These collaborative efforts enhance its revenue streams and foster innovation while mitigating development risks.

Genmab Financial Statement Overview

Summary

Genmab demonstrates strong financial health with high profitability margins and a robust balance sheet characterized by low leverage. However, recent revenue and free cash flow declines in the TTM period pose potential risks. The company needs to address these challenges to sustain its financial performance. Overall, Genmab remains a financially stable entity with opportunities for improvement in revenue growth and cash flow generation.

Income Statement

Genmab's income statement shows a strong gross profit margin consistently above 95%, indicating efficient cost management. However, the TTM data reveals a significant revenue decline of 20.06%, impacting net profit margins, which decreased from 36.44% in 2024 to 30.09% in the TTM period. Despite this, the company maintains healthy EBIT and EBITDA margins, reflecting operational efficiency. The recent revenue contraction poses a risk to future profitability.

Balance Sheet

Genmab's balance sheet is robust, with a low debt-to-equity ratio consistently below 0.03, indicating minimal leverage and financial stability. The return on equity is strong at 25.61% in the TTM period, showcasing effective use of equity to generate profits. The equity ratio remains healthy, suggesting a solid capital structure. Overall, the balance sheet reflects financial strength and low risk.

Cash Flow

The cash flow statement highlights a decline in free cash flow growth by 22.60% in the TTM period, raising concerns about cash generation. However, the operating cash flow to net income ratio is strong at 8.66, indicating efficient cash conversion. The free cash flow to net income ratio remains close to 1, suggesting that the company effectively translates earnings into cash. Despite recent declines, cash flow management remains solid.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	22.78B	21.53B	16.47B	14.60B	8.48B	10.11B
Gross Profit	21.51B	20.54B	16.25B	14.60B	8.48B	10.11B
EBITDA	7.66B	9.70B	5.56B	7.35B	3.15B	6.54B
Net Income	7.44B	7.84B	4.35B	5.45B	2.96B	4.76B
Balance Sheet
Total Assets	40.96B	45.81B	35.29B	30.28B	24.63B	21.14B
Cash, Cash Equivalents and Short-Term Investments	18.37B	21.10B	28.14B	22.32B	19.34B	16.08B
Total Debt	937.88M	1.03B	770.00M	597.00M	425.00M	319.00M
Total Liabilities	7.36B	9.11B	3.68B	2.84B	2.43B	2.02B
Stockholders Equity	33.60B	36.70B	31.61B	27.44B	22.20B	19.12B
Cash Flow
Free Cash Flow	6.68B	7.58B	7.00B	3.60B	1.98B	6.13B
Operating Cash Flow	7.09B	7.77B	7.38B	3.91B	2.23B	6.43B
Investing Cash Flow	178.60M	-9.91B	-1.28B	-2.76B	-961.00M	-2.35B
Financing Cash Flow	-2.93B	-3.92B	-606.00M	-789.00M	-420.00M	71.00M

Genmab Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 27.82
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GMAB, the sentiment is Positive. The current price of 27.82 is above the 20-day moving average (MA) of 25.74, above the 50-day MA of 23.46, and above the 200-day MA of 21.45, indicating a bullish trend. The MACD of 1.43 indicates Negative momentum. The RSI at 70.96 is Negative, neither overbought nor oversold. The STOCH value of 86.04 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GMAB.

Genmab Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GMAB	82 Outperform	$17.60B	14.17	26.08%	―	23.25%	64.46%
INCY	80 Outperform	$16.83B	19.59	24.30%	―	18.87%	1088.27%
BMRN	76 Outperform	$10.74B	16.02	11.62%	―	17.38%	153.58%
RPRX	72 Outperform	$21.40B	15.98	15.92%	2.39%	3.04%	53.03%
ASND	61 Neutral	$11.97B	―	357.68%	―	55.77%	46.81%
Sector *	51 Neutral	$8.02B	-0.31	-43.38%	2.24%	22.31%	-2.14%
BNTX	49 Neutral	$25.08B	―	-1.81%	―	7.51%	30.53%

Genmab Corporate Events

Genmab A/S Updates Articles of Association to Boost Financial Flexibility

On September 10, 2025, Genmab A/S announced updates to its Articles of Association, authorizing the Board of Directors to increase the company’s share capital and issue warrants and convertible debt instruments. These changes aim to provide financial flexibility and support the company’s growth strategy, impacting stakeholders by potentially diluting existing shares but also offering opportunities for investment and expansion.

Genmab Announces Capital Increase Following Employee Warrant Exercise

On September 9, 2025, Genmab A/S announced a capital increase of 47,532 shares following the exercise of employee warrants, generating approximately DKK 51.5 million. This increase, which represents about 0.07% of the company’s share capital, includes the exercise of 23,266 warrants by CEO Jan van de Winkel. The new shares, ordinary and freely transferable, will be listed on Nasdaq Copenhagen, enhancing Genmab’s market position and potentially benefiting stakeholders by increasing the company’s equity base.

Genmab Updates Articles to Boost Financial Flexibility

On August 13, 2025, Genmab A/S announced updates to its Articles of Association, including authorizations for the Board of Directors to increase share capital and issue warrants and convertible debt instruments. These changes aim to enhance the company’s financial flexibility and support its strategic growth initiatives, potentially impacting shareholder value and market positioning.

Genmab Announces Capital Increase Following Employee Warrant Exercise

On August 12, 2025, Genmab A/S announced a capital increase of 4,563 shares following the exercise of employee warrants, raising approximately DKK 4.7 million. This increase, which represents about 0.01% of the company’s share capital, will be listed on Nasdaq Copenhagen and reflects Genmab’s ongoing commitment to enhancing its financial structure and supporting its strategic growth initiatives.

Genmab Reports Strong Financial Growth and Clinical Progress in H1 2025

Genmab announced its financial results for the first half of 2025, reporting a 19% increase in revenue to $1,640 million compared to the same period in 2024. This growth was primarily driven by higher royalties from DARZALEX and Kesimpta, as well as increased EPKINLY sales. The company also highlighted significant progress in its clinical programs, including a submission to the FDA for Epcoritamab and promising data for Rinatabart sesutecan in endometrial cancer. Genmab’s operating profit rose to $548 million, and the company updated its revenue and operating profit guidance for 2025, reflecting higher royalty revenues.

Genmab’s EPCORE® FL-1 Trial Achieves Key Milestones in Follicular Lymphoma

On August 7, 2025, Genmab announced that its Phase 3 EPCORE® FL-1 clinical trial met dual primary endpoints in patients with relapsed/refractory follicular lymphoma. The trial demonstrated significant improvements in overall response rate and progression-free survival with the combination of epcoritamab, rituximab, and lenalidomide (R2) compared to R2 alone. The U.S. FDA has accepted a supplemental Biologics License Application for priority review, with a decision expected by November 30, 2025. If approved, this would mark the first bispecific antibody combination regimen available as a second-line treatment for this condition, potentially reshaping the treatment landscape.

Genmab Reports Strong DARZALEX® Sales for Q2 2025

On July 16, 2025, Genmab A/S announced that the net sales of DARZALEX® (daratumumab) for the second quarter of 2025 reached USD 3,539 million. The sales were divided between USD 2,017 million in the U.S. and USD 1,521 million in the rest of the world. Genmab receives royalties from Johnson & Johnson on these sales, reflecting the company’s strong position in the biotechnology industry and its successful collaboration with J&J.

Genmab Completes Share Buy-back Program

On June 30, 2025, Genmab A/S announced the completion of its share buy-back program, which began on March 25, 2025. The program aimed to repurchase up to 2.2 million shares to reduce capital and support commitments under the Restricted Stock Unit program. The buy-back was completed on June 26, 2025, with a total of 2.2 million shares repurchased, amounting to a total value of approximately 2.86 billion DKK. This strategic move is expected to impact Genmab’s capital structure and shareholder value positively.

Genmab Executes Share Buy-back Transactions in June 2025

On June 23, 2025, Genmab A/S announced the execution of transactions under its share buy-back program, initiated on March 25, 2025, to repurchase up to 2.2 million shares. The program, aimed at reducing capital and fulfilling commitments under the Restricted Stock Unit program, is expected to conclude by July 10, 2025. From June 16 to June 20, 2025, Genmab repurchased 500 shares, bringing the total accumulated shares under the program to 2,081,211. These transactions reflect Genmab’s strategic financial management and commitment to its shareholders.

Genmab A/S Updates Articles of Association for Strategic Growth

On June 18, 2025, Genmab A/S announced updates to its Articles of Association, which include authorizations for the Board of Directors to increase the company’s share capital and issue warrants and convertible debt instruments. These changes aim to provide the company with greater financial flexibility and potential growth opportunities, impacting its operational capabilities and strategic positioning in the market.

Genmab Announces Capital Increase Following Employee Warrant Exercise

On June 17, 2025, Genmab A/S announced a capital increase of 32,117 shares due to the exercise of employee warrants, raising approximately DKK 33.3 million. The new shares, which represent about 0.05% of the company’s share capital, will be listed on Nasdaq Copenhagen and provide rights to dividends. This move reflects Genmab’s ongoing efforts to incentivize employees and strengthen its financial position, potentially enhancing its market competitiveness.

Genmab Discloses Managerial Share Transactions in Compliance with Regulations

On June 17, 2025, Genmab A/S announced transactions involving shares and linked securities made by its managerial employees and their closely associated persons, in compliance with market abuse regulations. This disclosure highlights the company’s commitment to transparency and regulatory compliance, potentially impacting stakeholder trust and market perception.

Genmab A/S Updates Articles of Association to Enhance Capital Flexibility

On June 16, 2025, Genmab A/S announced updates to its Articles of Association, including authorizations for capital increases and issuance of warrants and convertible debt instruments. These changes allow Genmab to raise capital through new share issuances and convertible debt, potentially enhancing its financial flexibility and supporting future growth initiatives.

Genmab Executes Share Buy-back Transactions in June 2025

On June 16, 2025, Genmab A/S announced the execution of transactions under its share buy-back program, initiated on March 25, 2025, to repurchase up to 2.2 million shares. The program, aimed at reducing capital and fulfilling commitments under the Restricted Stock Unit program, saw the repurchase of 400 shares from June 9 to June 13, 2025, with a total value of 592,200.50 DKK. This initiative is expected to conclude by July 10, 2025, and is conducted in accordance with EU regulations, reflecting Genmab’s strategic financial management and commitment to shareholder value.