Genmab: UBS raises 12-month target price
(CercleFinance.com) - UBS has raised its 12-month target price for Denmark's Genmab to 2,680 Danish kronor, from a previous target price of 2,540 Danish kronor, after the company's capital markets day last Friday.
"Unsurprisingly the focus was on transformation into an end-to-end biotech company; the story that underpins our buy case," the broker wrote in a note to clients.
In the report, UBS said that capex is set to rise next year, with 2021 being a year of investment, even though clinical developments matter too, it said.
The broker said that there is more to know on the positioning of the company's priority assets, especially the opportunity for epcoritamab in chronic lymphocytic leukemia (CLL) and potential early filings in non-Hodgkin's lymphoma (NHL).
The Genmab share is currently flat (+0.1%) on the Copenhagen Stock Exchange.
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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.
"Unsurprisingly the focus was on transformation into an end-to-end biotech company; the story that underpins our buy case," the broker wrote in a note to clients.
In the report, UBS said that capex is set to rise next year, with 2021 being a year of investment, even though clinical developments matter too, it said.
The broker said that there is more to know on the positioning of the company's priority assets, especially the opportunity for epcoritamab in chronic lymphocytic leukemia (CLL) and potential early filings in non-Hodgkin's lymphoma (NHL).
The Genmab share is currently flat (+0.1%) on the Copenhagen Stock Exchange.
Copyright (c) 2020 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.