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Jefferies downgrades Genmab recommendation due to lack of short-term catalysts

A lack of short-term catalysts is one of the reasons that investment bank Jefferies has changed its recommendation for Genmab stock. The biotech company's share price increase since the start of the year is another reason, as S&P's biotech index has fallen during the same period.

Photo: Tuala Hjarnø / Genmab / PR

US-based investment bank Jefferies has downgraded its recommendation for Genmab from "buy" to "hold," as the share price has risen by around 10 percent since the start of the year and 40 percent since March, while S&P's index has fallen 9 percent since the New Year.

The brand new analysis from the bank states that a lack of short-term catalysts is another reason that it has changed its recommendation. The next big news expected from the company is the results of the extended study of Epcoritamab (CD3xCD20) for the treatment of Leukemia, which Jefferies expects to be publicized in summer 2022.

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