Truist Securities Hikes Genmab A/S (GMAB) Price Target Buoyed by Revenue Outlook

Genmab A/S (NASDAQ:GMAB) is one of the best biotech stocks to buy according to billionaire Steve Cohen. On July 8, Truist Securities reiterated a ‘Buy’ rating on the stock and increased its price target to $46 from $45.

Truist Securities Hikes Genmab A/S (GMAB) Price Target Buoyed by Revenue Outlook

A doctor in a hospital consulting with a cancer patient about immuno-oncology therapy.

According to Truist Securities, the current valuation does not depict the company’s fair value. That’s because it boasts an established revenue and solid pipeline potential. The price target adjustment underscores Truist Securities’ confidence about Genmab’s revenue outlook for 2025.

The research firm is confident about the company’s cancer drug Darzalex as prescription data indicates 10% quarter-over-quarter growth in Q2. The firm is also bullish about the company’s other products, including Epkinly and Kesimpta. Truist Securities has also expressed confidence in Genmab’s pipeline assets, including Rina-S, Acasun, and Gen1042, which it believes are undervalued.

Genmab A/S (NASDAQ:GMAB) is a biotechnology company specializing in the development of antibody therapeutics for cancer treatment. It utilizes advanced antibody technologies, such as DuoBody and HexaBody, to create next-generation therapeutic antibodies.

While we acknowledge the potential of GMAB to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than GMAB and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.