Morgan Stanley initiates Genmab stock coverage with Equalweight rating
Morgan Stanley initiated coverage on Genmab (GMAB) with an Equalweight rating and a $42 price target. The stock trades at $38.50 with a $22.81B market cap. Darzalex contributed 65% of 2025 revenue, with royalties ending in 2029-2031. Morgan Stanley models revenue peaking at $8.63B in 2030 before declining. Genmab reported Q2 2026 earnings of $4.91 per share, exceeding estimates, and raised 2026 revenue guidance to DKK 4.3B-4.5B. Other analysts raised price targets to $50 and $54.
How this was made
The 30-second read
Why it matters
The earnings beat and guidance raise provide fresh, material information that can drive the stock higher in the short term.
Market read
The article delivers primary earnings and guidance news for Genmab, offering a clear trading catalyst.
What to watch
Potential royalty reductions after 2029 and competition in the oncology space could temper upside.
Background
Genmab reported Q2 2026 earnings of $4.91 EPS, beating forecasts, and raised its 2026 revenue guidance to DKK 4.3‑4.5 bn. Morgan Stanley initiated coverage with a $42 target.
Ticker impact
Morgan Stanley initiated coverage with an Equalweight rating, set a $42 price target, and reported Genmab's Q2 earnings beat and raised full-year 2026 revenue guidance.
likely upward pressure as investors price in the earnings beat and higher guidance
The fresh earnings beat and guidance raise are primary disclosures that can move the stock immediately.
Market effects
Strengthens the biotech sector outlook, especially companies with oncology pipelines.
European and US markets may see modest gains in biotech indices.
Limited to biotech investors; no broad market effect.
Counterpoint
If the trial data fails to translate into sales, the price target may be overly optimistic.
Key entities
- companyGenmab A/S
Danish biotech firm listed on NASDAQ under GMAB.
- analystMorgan Stanley
Initiated coverage with an Equalweight rating and $42 price target.
