Genmab announces Janssen's 'positive' results from Phase 3 APOLLO study » 15:4007/3107/31/20
Genmab A/S (GMAB)…
Genmab A/S (GMAB) announced that the European Myeloma Network in collaboration with Janssen Research & Development reported positive results from the Phase 3 APOLLO study of the subcutaneous formulation of daratumumab in combination with pomalidomide and dexamethasone versus Pd alone as treatment for patients with relapsed or refractory multiple myeloma who have previously been treated with lenalidomide and a proteasome inhibitor. The study met the primary endpoint of improving progression-free survival. Overall, the safety profile of daratumumab SC in combination with Pd was consistent with the safety profile for each therapy separately, Genmab stated. "We are pleased with these positive results for daratumumab, administered as a subcutaneous formulation, in combination with pomalidomide and dexamethasone. The corresponding intravenous regimen was previously approved by the U.S. FDA based on the Phase1 single-arm EQUULEUS study," said Jan van de Winkel, CEO of Genmab. Janssen Biotech (JNJ), which obtained an exclusive worldwide license to develop, manufacture and commercialize daratumumab from Genmab in 2012, intends to discuss the data with health authorities in preparation for regulatory submissions and plans to submit the data for presentation at an upcoming medical conference, Genmab stated.
|Over a week ago|
Genmab reports Q2 net sales of Darzalex $901M » 06:4807/1607/16/20
Genmab (GMAB) announced…
Genmab (GMAB) announced worldwide net sales of Darzalex - daratumumab -, including sales of the subcutaneous formulation, as reported by Johnson & Johnson (JNJ) were $901M in Q2. Net trade sales were $492M in the U.S. and $409M in the rest of the world. Genmab will receive royalties on the worldwide net sales of Darzalex under the exclusive worldwide license to Janssen Biotech to develop, manufacture and commercialize Darzalex. Darzalex is indicated for the treatment of adult patients in the U.S. in various combinations as treatment for patients newly diagnosed with multiple myeloma.
|Over a month ago|
Genmab initiated with a Sell at Societe Generale » 11:5607/0207/02/20
Societe Generale analyst…
Societe Generale analyst Justin Smith initiated coverage of Genmab with a Sell rating and DKK 1,620 price target. While Smith acknowledges that 2019 was the seventh consecutive year of profitability and projects "a six-fold expansion" in annual sales from 2019-2030, he does not believe that the current share price appropriately discounts the company's portfolio concentration risk.
Seattle Genetics price target raised to $167 from $155 at SVB Leerink » 09:2406/3006/30/20
SGEN, GMAB, MRK
SVB Leerink analyst…
SVB Leerink analyst Andrew Berens raised the firm's price target on Seattle Genetics (SGEN) to $167 from $155 and keeps an Outperform rating on the shares. The analyst notes that Seattle Genetics and its partner Genmab (GMAB) announced top-line results from the innovaTV 204 Phase 2 study evaluating tisotumab vedotin in patients with recurrent or metastatic cervical cancer who have progressed after prior treatment. Berens believes most investors were looking for monotherapy data that could support an accelerated pathway, which this top-line release suggests is probable, given limited treatment options in these patients and the relatively low bar for efficacy. While detailed data are yet to be presented at an upcoming medical meeting in 2020, he is "encouraged" by the data, which suggest that TV could become the fourth commercial asset in Seattle Genetics' portfolio. Importantly, Berens thinks TV could be combined with Merck's (MRK) Keytruda as a key strategy going forward, which would expand Keytruda's therapeutic reach beyond its currently approved label for PD-L1+ cervical cancer patients.
Guggenheim says Seattle Genetics' cervical cancer data 'a positive surprise' » 07:3406/3006/30/20
Guggenheim analyst Michael Schmidt said that Seattle Genetics (SGEN) and Genmab (GMAB) announced topline results from the Phase 2 trial of tisotumab vedotin in patients who have relapsed or progressed on or after prior treatment for recurrent or metastatic cervical cancer that he called a "positive surprise." The 24% ORR and 8.3 months mDOR reported in these patients "very likely clears the regulatory bar," according to Schmidt, who noted that Seattle Genetics management said they plan a potential submission of a BLA to support accelerated approval. This positive news may read through positively to the overall potential of tisotumab vedotin, which is being evaluated in first line mCC and other cancer types, added Schmidt, who raised his price target on Seattle Genetics shares to $183 from $175 and hiked his Genmab target to DKK 2,486 from DKK 2,350. He keeps Buy ratings on both stocks.
Genmab downgraded to Neutral from Outperform at Credit Suisse » 05:3306/2506/25/20
Credit Suisse analyst…
Credit Suisse analyst Trung Huynh downgraded Genmab to Neutral from Outperform with a DKK 2,235 price target.
Genmab price target raised to $35 from $27 at RBC Capital » 06:5506/1906/19/20
RBC Capital analyst…
RBC Capital analyst Kennen MacKay raised the firm's price target on Genmab to $35 from $27 and keeps an Outperform rating on the shares. The analyst cites "vast potential" for the company's epcoritamab in early-line NHL and also sees it as well-validated in late-line DLBCL, modeling potential for risk-unadjusted US and global sales of $2.4B and $4.6B respectively across lines of NHL.
AbbVie price target raised to $109 from $96 at UBS » 06:1606/1706/17/20
UBS analyst Navin Jacob…
UBS analyst Navin Jacob raised the firm's price target on AbbVie (ABBV) to $109 from $96 and keeps a Buy rating on the shares. The analyst notes that following phase 2 data for ABBV-3373 in rheumatoid arthritis, he is increasing his probability of success to 50% from 35% and peak sales estimate to $1B from $700M. Jacob also cites AbbVie's announced collaboration with Genmab (GMAB) and includes his estimated $450M peak sales estimates for epcoritamab in his model.
Genmab price target raised to DKK 1,950 from DKK 1,850 at JPMorgan » 11:5306/1206/12/20
JPMorgan analyst James…
JPMorgan analyst James Gordon raised the firm's price target on Genmab to DKK 1,950 from DKK 1,850 and keeps an Overweight rating on the shares.
Genmab price target raised to DKK 2,250 from DKK 2,150 at Barclays » 14:0406/1106/11/20
Barclays analyst Emily…
Barclays analyst Emily Field raised the firm's price target on Genmab to DKK 2,250 from DKK 2,150 and keeps an Overweight rating on the shares.