Analyst sees limited potential for Genmab stock despite strong Darzalex performance

Johnson & Johnson has just booked better-than-expected sales of Darzalex, from which Genmab receives royalties. Even so, a Jefferies analyst thinks the Danish firm’s stock potential to outperform is limited.

Photo: Tuala Hjarnø / Genmab / PR

US-based Johnson & Johnson publicized its second-quarter financial figures Tuesday, beating analysts’ sales estimates for cancer drug Darzalex, which is developed by J&J subsidiary Janssen on a license from Danish biotech firm Genmab.

However, although sales were higher than both the consensus estimate and Jefferies’s own projections for the drug, the investment bank sees only limited potential for Genmab trading.

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