Gold bars to be exempt from tariffs, White House clarifies
Investing.com - Truist Securities raised its price target on Genmab (CSE:GMAB) A/S (NASDAQ:GMAB) to $46.00 from $45.00 on Tuesday, while maintaining a Buy rating on the biotechnology company’s stock. According to InvestingPro data, analyst targets for Genmab currently range from $20 to $45, with the company showing impressive financial health metrics and a "GREAT" overall score.
The price target increase reflects Truist’s optimistic view of Genmab’s revenue outlook for 2025, driven primarily by strong performance of its cancer drug Darzalex, which prescription data indicates grew approximately 10% quarter-over-quarter in Q2.
Truist noted that additional revenue contributions are expected from Genmab’s other products, Epkinly and Kesimpta, though to a lesser extent than Darzalex.
The research firm expressed confidence in Genmab’s pipeline assets—Rina-S, Acasun, and GEN1042—which it believes are being undervalued by market consensus, with particular emphasis on Rina-S’s leading potential.
Truist Securities maintained that Genmab’s current valuation "does little justice" to the company’s established revenue streams and pipeline potential, supporting its continued Buy recommendation.
In other recent news, Genmab A/S has completed its share buy-back program, repurchasing a total of 2.2 million shares valued at approximately 2.86 billion Danish kroner. This program, which concluded earlier than planned, aimed to reduce the company’s capital and fulfill obligations under its Restricted Stock Unit program. Additionally, Genmab disclosed details of its buy-back activities in a filing with the U.S. Securities and Exchange Commission, emphasizing transparency and adherence to regulatory standards. In another development, Genmab announced the granting of 3,320 restricted stock units and 3,636 warrants to its employees as part of its long-term incentive plan. These grants are designed to align employee interests with those of shareholders, with the restricted stock units and warrants vesting after three years. The company also detailed the terms of these grants, including the exercise price and fair value calculations. Genmab’s ongoing financial strategies, including the share buy-back and equity compensation, demonstrate its commitment to optimizing capital structure and enhancing shareholder value.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.