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In a challenging market environment, Y mAbs Therapeutics , Inc. (NASDAQ:YMAB) stock has recorded a new 52-week low, dipping to $7.23. According to InvestingPro data, technical indicators suggest the stock is currently in oversold territory, with a market capitalization of $331 million. This latest price level reflects a persistent downtrend for the biopharmaceutical company, which has seen its shares struggle over the past year. Despite the challenges, YMAB maintains impressive gross profit margins of 89% and holds more cash than debt on its balance sheet. InvestingPro analysis indicates the stock may be undervalued at current levels, with 10+ additional investment insights available to subscribers. Investors are closely monitoring YMAB's performance for signs of a turnaround or further indicators of market headwinds that could impact the stock's trajectory.
In other recent news, Y-mAbs Therapeutics reported a 10% decrease in net revenue for Q3 2024, totaling $18.5 million. Despite this decrease, the company's net revenue remained stable at $61.2 million for the first nine months of 2024. In response to these results, Y-mAbs' management has decided to maintain its full-year 2024 revenue guidance, which is set between $87 million and $95 million.
Clear Street recently initiated coverage on Y-mAbs Therapeutics with a Buy rating and a price target set at $21. The firm highlighted the company's commercial product, Danyelza, and the SADA platform as key drivers for future growth. In contrast, BMO Capital adjusted its price target for Y-mAbs to $24, down from $25, while maintaining an Outperform rating, following the Q3 revenue results.
Y-mAbs' FDA-approved therapy DANYELZA experienced a 5% drop in U.S. product revenues, influenced by Medicaid claim adjustments and increased competition. Despite these challenges, the company is advancing its SADA PRIT technology platform and has entered a new licensing agreement for potential commercialization in Japan. These are some of the recent developments shaping the company's trajectory.
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