Genmab (GMAB)

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Investing.com - TD Cowen upgraded Genmab A/S (NASDAQ:GMAB) to Buy from Hold and raised its price target to $43.00 from $32.00. The stock currently trades at $28.37, suggesting significant upside potential to the new target.

The firm said it has conviction that Epkinly, Rina-S and peto will offset the $3.6 billion Darzalex patent cliff. TD Cowen’s statistical analysis suggests Epkinly’s Phase 3 trial in first-line DLBCL should succeed and look better than POLARIX.

Rina-S is ahead in development in proof of concept. Peto could differentiate with efficacy in HPV-positive HNSCC, the firm said.

TD Cowen said the stock appears cheap, trading near royalty net present value. InvestingPro data supports this view, indicating the stock is undervalued with a Fair Value of $37.06. The company maintains impressive gross profit margins of 93% and has delivered 21% revenue growth over the last twelve months. An InvestingPro tip highlights that management has been aggressively buying back shares, further reinforcing confidence in the company’s prospects. The firm noted that the second half of 2026 is catalyst-rich.

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Genmab Q2: Guldæg medvirker til opjustering og stærkt kvartal - ProInvestor