GMAB Stock Forecast & Price Target

Genmab has demonstrated significant financial momentum, particularly with its leading product, DARZALEX, which achieved worldwide net sales of $3.67 billion in 3Q25, exceeding prior estimates and consensus expectations. The company's strong royalty forecast of $679 million from DARZALEX and the promising pipeline candidates, including petosemtamab, are expected to contribute to robust revenue growth, with projections suggesting potential annual sales exceeding $1 billion by 2029. Additionally, Genmab's solid track record of profitability and a strong balance sheet position the company favorably to navigate challenges within the biotechnology sector, bolstered by multiple upcoming clinical data catalysts.

Genmab faces significant risks that contribute to a negative outlook, including slowing sales of its leading product, Darzalex, coupled with potential failures to secure label extensions and negative trial readouts. Additionally, the company's other products, particularly Epcoritamab, are experiencing lower-than-expected market penetration, while the drug Arzerra struggles to gain traction in the relapsing multiple sclerosis market. Further exacerbating the situation are risks associated with currency fluctuations, macroeconomic factors, and the possibility of long-term shareholder dilution due to these challenges in clinical testing and competitive pressures.