Genmab: shares up after broker upgrade
(CercleFinance.com) - Shares of Danish biotech firm Genmab rose on Friday after Bank of America-Merrill Lynch upgraded the stock from "neutral" to "buy," saying the next leg of growth story beyond Darzalex is "in sight.
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In a note to clients, BAML analysts cited increased sales for blood cancer drug daratumumab, higher-than-expected Arzerra sales in either oncology or multiple sclerosis and success in discovery and technology partnerships.
They have raised their target price from 1,400 Danish kronor to 1,700 Danish kronor.
Genmab shares are up 0.7% at 1,384 Danish kronor in early afternoon trading on Friday.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
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In a note to clients, BAML analysts cited increased sales for blood cancer drug daratumumab, higher-than-expected Arzerra sales in either oncology or multiple sclerosis and success in discovery and technology partnerships.
They have raised their target price from 1,400 Danish kronor to 1,700 Danish kronor.
Genmab shares are up 0.7% at 1,384 Danish kronor in early afternoon trading on Friday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.