William Blair Starts Genmab A/S (GMAB) at Market Perform

William Blair analyst Matt Phipps initiates coverage on Genmab A/S (NASDAQ: GMAB) with a Market Perform rating.

The analyst comments "We are initiating coverage of Genmab with a Market Perform rating, based on our belief that although launch of partnered programs (epcoritamab and Tivdak) have significant longer-term potential, initial commercial indications are limited and additional time will be needed for intriguing pipeline programs to take shape. We are also cautions on near-term readouts (such as GEN3014). However, we believe revenues from the company’s multiple royalty streams, including Darzalex and Kesimpta, will continue to show robust growth (we estimate CAGR of 20% over the next five years), providing a floor for the company’s current valuation."

For an analyst ratings summary and ratings history on Genmab A/S click here. For more ratings news on Genmab A/S click here.

Shares of Genmab A/S closed at $41.84 yesterday.

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