HC Wainwright Is Bullish On This Multiple Myeloma Focused Stock

HC Wainwright increased the price target on Genmab A/S GMAB from $49 to $51, with a Buy rating.
The analyst cites that Genmab recorded a Q2 diluted net income of DKK28.66 per share, better than the previously forecast diluted net income of DKK15.05.
Genmab generated DKK 3.2 billion in revenue for 2Q22, with Darzalex royalties coming in at DKK 2.5 billion vs. HC's estimates of DKK 3.1 billion and DKK 2.5 billion, respectively.
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The analyst expects FY22 net earnings of DKK 64.71 per share vs. the prior estimate of DKK 64.14.
"Given Darzalex's strong growth trajectory and Genmab's burgeoning pipeline, we believe that Genmab is well situated to weather further attrition given its profitability, strong balance sheet, solid positioning in multiple myeloma, and broad pipeline with multiple upcoming data catalysts," said the HC Wainwright analyst.
Price Action: GMAB shares are down 1.62% at $35.31 on the last check Monday.

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