Genmab A/S (GMAB) PT Raised to $40 at H.C. Wainwright

H.C. Wainwright analyst Raghuram Selvaraju raised the price target on Genmab A/S (NASDAQ: GMAB) to $40.00 (from $39.00) while maintaining a Buy rating.

The analyst commented: "For 2025, Genmab recorded net earnings of $15.37 per diluted share vs. our forecast for net earnings of $19.98 per diluted share. Genmab generated $3.7B in revenue in 2025, with DARZALEX royalties totaling $2.44B, vs. our estimate of ~$2.47M. R&D and SG&A expenses were ~$1.6B and $626M, respectively, vs. our estimates of ~$1.5B and $569M. We now project full-year 2026 net earnings of $17.51 per diluted share vs. our prior estimate of net earnings of $16.77 per diluted share. Genmab ended 2020 with ~$2.9B in cash, cash equivalents, and marketable securities. Given DARZALEX's strong growth trajectory and Genmab's burgeoning pipeline, we continue to believe that the company is well situated to weather further attrition in the biotech sector because of its track record of profitability, strong balance sheet, solid positioning in the multiple myeloma (MM) arena with DARZALEX, and broad pipeline with potential for numerous near- and medium-term clinical data catalysts. After advancing our discounted cash flow (DCF)-based valuation, we reiterate our Buy rating, while raising our 12-month price target to $40 from $39."

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