Barclays maintains its overweight rating on Danish pharmaceutical company Genmab with a target price of DKK 3,100.
Darzalex sales increased by 15.6 percent in local currency during the third quarter, 1 percent below consensus. Barclays considers the outcome to be in line with expectations and expects a limited positive share-price reaction.
The bank continues to see attractive potential ahead of study data for Rina-S and Peto in the fourth quarter. At the same time, the success of Epkinly reduces the risks to Genmab’s long-term growth after royalty revenues from Darzalex cease.
