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On Friday, H.C. Wainwright & Co. reaffirmed their Buy rating and $37.00 price target for Genmab (CSE:GMAB) A/S (NASDAQ:GMAB). The firm’s analyst highlighted the company’s first-quarter performance, noting that Genmab’s DARZALEX franchise, including DARZALEX Faspro, reported net sales of $3,237 million. Of this total, $1,829 million was attributed to the U.S. market, while sales from other global markets reached $1,409 million.
The reported sales figures closely matched H.C. Wainwright’s projections of $3,259 million. As a result of the sales, the firm anticipates Genmab’s DARZALEX royalties for the first quarter of 2025 to be approximately 3,215 million Danish kroner (DKK), an increase from the previously estimated 3,065 million DKK. InvestingPro analysis reveals the company maintains exceptional profitability with a 95.42% gross profit margin and trades at an attractive P/E ratio of 10.96x.
The analyst expressed confidence in Genmab’s position within the biotech sector, citing the company’s proven profitability and robust balance sheet. The sustained performance of the DARZALEX franchise was particularly emphasized as a testament to its resilience in the market. InvestingPro data supports this view with two key insights: the company holds more cash than debt on its balance sheet, and its cash flows sufficiently cover interest payments. Subscribers can access 8 additional ProTips and comprehensive financial analysis in the Pro Research Report.
Genmab’s strong foothold in the multiple myeloma (MM) market with DARZALEX was also underlined as a key factor in the company’s stable market presence. Moreover, the analyst pointed to Genmab’s extensive pipeline, which is expected to provide numerous clinical data catalysts in the near and medium term.
In closing, H.C. Wainwright reiterated their positive stance on Genmab, maintaining both the Buy rating and the $37 price target for the company’s stock. The firm’s outlook suggests continued optimism for Genmab’s financial health and growth potential within the biotech industry.
In other recent news, Genmab A/S has been actively engaging in share buyback transactions as part of its strategic capital allocation plan. These transactions were reported in several filings with the U.S. Securities and Exchange Commission, including activities between March 31 and April 18, 2025. The buybacks are designed to adjust Genmab’s capital structure and fulfill obligations related to share-based incentive programs. The company has transparently disclosed the number of shares repurchased and the average purchase prices in its filings. Additionally, Genmab announced a share capital reduction, further indicating strategic adjustments to its financial structure. The company’s Executive Vice President & Chief Financial Officer, Anthony Pagano, has signed off on these filings, ensuring regulatory compliance. These developments are part of Genmab’s ongoing efforts to deliver shareholder value and reflect confidence in its growth prospects. Investors can access detailed information about these financial activities through the company’s SEC filings.
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