Genmab: Credit Suisse initiates with 'outperform' rating
(CercleFinance.com) - Credit Suisse has initiated coverage of the Danish biotech company Genmab with an "outperform" rating and a target price of 1,950 Danish kronor, seeing a "commercial biopharma" in the making.
While there remains uncertainty surrounding coronavirus and its impact on the sector, Genmab is better placed than most of its peers, the broker said, given its innovative platform and strong, predictable cash flows from its anti-cancer drug Darzalex.
However, the investment thesis has now moved beyond Darzalex, with focus switching to the pipeline as the group prepares to become a commercial biopharmaceutical company.
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