Deutsche Bank downgraded Genmab (GMAB) to hold from buy saying that it is does not expect upcoming data on candidates to be presented at two upcoming conferences to lead to upside.
The firm has a price target of DKK 3100 (~3% upside based on Friday's close on the Copenhagen Stock Exchange).
Analyst Emmanuel Papadakis said he does not anticipate data that will be presented at an European Society for Medical Oncology Immuno-Oncology Congress in December on GEN1042, which targets to CD40 and 4-1BB, "to surprise on the upside."
He also expressed concerns on GEN3014 (HexaBody-CD38), as " the early hexabody evidence is best described as inconclusive." Data from a phase 1/2 trial will be presented at the American Society of Hematology Annual Meeting, also next month,
Check out why Seeking Alpha contributor Avisol Capital Partners recently rated Genmab (GMAB) a hold.