JPMorgan upgraded Genmab to Overweight and raised its target

Published Oct. 27; JPMorgan upgraded Genmab from Neutral to Overweight and raised its target to DKK3,500 from DKK2,050, ahead of a November first-line petosemtamab Phase 3 interim head-and-neck readout. Analyst Zain Ebrahim expected at least 40% overall response and raised unadjusted peak-sales forecast to $5B from $2.5B. The article reported shares had risen 68% in six months.