Genmab: shares down after UBS downgrade
(CercleFinance.com) - Genmab shares are down 0.
7% at 1,132.5 Danish kronor in late morning trading on Wednesday, after UBS downgraded the stock to "neutral".
The broker, which previously had a "buy" rating prior to the move, also cut its target price for share, from 1,400 Danish kronor to 1,180 Danish kronor.
Even so, UBS still has some kind words for the Danish biotech firm.
"Should investors be comfortable with Darzalex cash being reinvested in R&D?," it asks in a note. "Our novel benchmarking says "yes"".
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.
7% at 1,132.5 Danish kronor in late morning trading on Wednesday, after UBS downgraded the stock to "neutral".
The broker, which previously had a "buy" rating prior to the move, also cut its target price for share, from 1,400 Danish kronor to 1,180 Danish kronor.
Even so, UBS still has some kind words for the Danish biotech firm.
"Should investors be comfortable with Darzalex cash being reinvested in R&D?," it asks in a note. "Our novel benchmarking says "yes"".
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.