Genmab A/S (GMAB) Receives a Buy from H.C. Wainwright
H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Genmab A/S (GMAB) today and set a price target of $24. The company’s shares closed last Monday at $20.06, close to its 52-week high of $21.45.
“We use a discounted cash flow (DCF)-based approach to valuing 2.0% terminal growth rate, 8.0% discount rate and 23% effective tax rate. We assign a 90% probability of approval to DARZALEX in smoldering MM; a 95% probability to ARZERRA in relapsing-remitting multiple sclerosis (RR-MS); an 85% probability to teprotumumab; a 20% probability to enapotamab vedotin in 35% probabilities of approval to tisotumab vedotin for cervical cancer and ovarian cancer, respectively.”
According to TipRanks.com, Selvaraju ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -4.5% and a 35.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and Stealth Biotherapeutics Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Genmab A/S with a $23.50 average price target, representing a 16.7% upside. In a report issued on September 13, Merrill Lynch also upgraded the stock to Buy.
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The company has a one-year high of $21.45 and a one-year low of $12.10. Currently, Genmab A/S has an average volume of 421.5K.
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Genmab A/S operates as an international biotechnology company. The firm develops human antibody therapeutics for the treatment of cancer and other diseases.