We used TipRanks analyst ranking service to identify Wall Street's best-performing analysts.
First, the drugmaker reported impressive results from its Phase 3 Andromeda trial of Darzalex in AL amyloidosis at the European Hematology Association virtual conference. This is the most common type of systemic amyloidois in the US, with about 4,500 new cases diagnosed every year. As amyloid proteins builds up in an organ, nerve or tissue, it gradually causes damage and affects their function.
"In our view, [GMB's] Darzalex is likely to be established as a key component of a potential new standard-of- care regimen in AL amyloidosis based on the evidence from the Andromeda trial, providing another long-term catalyst to revenues" cheered Selvaraju. Plus Genmab has just inked a high-profile collaboration arrangement with AbbVie for three of its bispecific antibody programs. According to Selvaraju, the arrangement should meaningfully accelerate Genmab's progression into a fully-formed commercial-stage entity with a rich product portfolio.
With AbbVie, "Genmab gains access to a partner with significant commercial infrastructure in the hematological malignancy space and extensive development expertise" the analyst writes. Shares in Genmab have climbed 42% this year.
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