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Genmab A/SNasdaqGS:GMAB Stock Report

Market Cap US$18.1b
Share Price
n/a
1Y36.2%
7D4.4%
1D0.8%
Portfolio Value
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Genmab A/S

NasdaqGS:GMAB Stock Report

Market Cap: US$18.1b

Genmab (GMAB) Stock Overview

A biotechnology company, develops antibody-based products and product candidates for the treatment of cancer and other diseases in Denmark. More details

GMAB fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance2/6
Financial Health2/6
Dividends0/6

Rewards

Trading at 65.3% below our estimate of its fair value

Earnings are forecast to grow 18.72% per year

Risk Analysis

Debt is not well covered by operating cash flow

Profit margins (21%) are lower than last year (35.1%)


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Genmab A/S Competitors

Price History & Performance

Summary of share price highs, lows and changes for Genmab
Historical stock prices
Current Share PriceDKK 29.78
52 Week HighDKK 35.43
52 Week LowDKK 21.00
Beta0.69
1 Month Change18.65%
3 Month Change5.42%
1 Year Change36.23%
3 Year Change-23.13%
5 Year Change-30.94%
Change since IPO731.15%

Recent News & Updates

Seeking Alpha • Apr 09

Genmab: Multiple Binaries Could Alter The Thesis

Summary Genmab faces a pivotal transition as DARZALEX royalties end by 2029–2032, but multiple late-stage oncology catalysts could redefine its growth trajectory. Upcoming registrational readouts for EPKINLY, Rina-S, and petosemtamab in 2026–2027 could drive multi-billion-dollar peak sales and diversify GMAB’s revenue base. GMAB trades at a discounted 4x 2026 and 2.5x 2030 forward price-to-sales, despite strong double-digit revenue and EPS growth projections post-OpEx ramp. I maintain a 4/5 conviction rating, planning selective buying below $28.25 and profit-taking at $42, with risk tied to binary clinical outcomes. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha • Apr 09

Genmab: Multiple Binaries Could Alter The Thesis

Summary Genmab faces a pivotal transition as DARZALEX royalties end by 2029–2032, but multiple late-stage oncology catalysts could redefine its growth trajectory. Upcoming registrational readouts for EPKINLY, Rina-S, and petosemtamab in 2026–2027 could drive multi-billion-dollar peak sales and diversify GMAB’s revenue base. GMAB trades at a discounted 4x 2026 and 2.5x 2030 forward price-to-sales, despite strong double-digit revenue and EPS growth projections post-OpEx ramp. I maintain a 4/5 conviction rating, planning selective buying below $28.25 and profit-taking at $42, with risk tied to binary clinical outcomes. Read the full article on Seeking Alpha
Seeking Alpha • Apr 15

Genmab's Outlook Beyond Darzalex's Patent Cliff

Summary Genmab presents a long-term investment opportunity, but uncertainties around Darzalex's pending patent expiration warrant a cautious approach. The company’s robust late-stage pipeline could offset DARZALEX revenue loss with new product launches expected between 2027-2031. Genmab’s strong balance sheet with $2.9 billion in cash and no long-term debt provides financial flexibility for R&D and strategic acquisitions. The current valuation aligns with a conservative scenario where all new product launches fail suggesting limited downside risk but strong upside potential. If Phase 3 trials succeed, Genmab could see massive growth in revenue and potentially double or triple its market value, making it a low-risk, high-reward investment. Read the full article on Seeking Alpha
Seeking Alpha • Mar 14

Genmab: GEN3014's Demise And Implications For The HexaBody Platform

Summary Genmab's stock fell after J&J opted out of developing GEN3014 due to its undifferentiated efficacy and worse safety and tolerability compared to Darzalex. Genmab wisely chose not to pursue GEN3014 further, focusing instead on its existing pipeline projects. Concerns about GEN3014's safety may have impacted investors' perceptions of Genmab’s HexaBody platform. Genmab has only one early-stage HexaBody candidate in the clinic. Focus should now shift to quarterly results and upcoming clinical data updates, starting with proof-of-concept results for Rina-S in endometrial cancer and updated phase 2 results for acasunlimab. Read the full article on Seeking Alpha
Seeking Alpha • Dec 08

Genmab Is Too Attractive To Ignore

Summary Genmab's shares are down to very attractive levels and hard to ignore. The company's royalty revenues are expected to exceed $2.5 billion this year and potentially $4 billion at peak, driven primarily by Darzalex and Kesimpta. Despite some setbacks and market concerns, Genmab's long-term growth prospects remain strong, supported by growing Epkinly revenues, expanding clinical pipeline and the acquisition of ProfoundBio. Continued strong topline growth, increasing cash flows, renewed margin expansion and pipeline maturation should drive a share price recovery in 2025 and beyond. Read the full article on Seeking Alpha
Seeking Alpha • Nov 06

Genmab: Looking To Manage My Position Around Q3 Earnings

Summary Genmab's robust pipeline, strategic partnerships, and strong 2023 performance, led by DARZALEX and EPKINLY, bolster my bullish conviction despite ongoing legal disputes with Johnson & Johnson. The company's Q3 earnings on November 6th are crucial, with expectations of $817M in revenue and $0.33 EPS, potentially reversing the recent 20% share price drop. Investors should watch for updates on Genmab’s pipeline, OpEx, and DARZALEX royalty trends, as well as the impact of the ProfoundBio acquisition. Despite risks, including competition and regulatory challenges, I maintain a strong conviction in GMAB, planning to add shares if positive earnings trigger a price move above $24. Read the full article on Seeking Alpha
Seeking Alpha • Aug 23

Genmab: Strong H1 2024 Performance, Partner BioNTech Gives Up On Acasunlimab

Summary Genmab's stock continues to struggle despite the strong progress of the company's commercial portfolio in the first half of the year. Epkinly is now FDA-approved for third-line+ follicular lymphoma, which should boost its revenue growth rates in the following quarters. BioNTech gave up on co-development of acasunlimab, but Genmab is undeterred and expects to start a phase 3 trial by the end of the year. Operating margin pressure continues, acquisition of ProfoundBio extends the time to recovery by several quarters. Continued commercial and pipeline progress and the eventual return of margin expansion position Genmab well for long-term value creation. Read the full article on Seeking Alpha
Seeking Alpha • May 01

Genmab: A Complicated Tale

Summary Genmab's stock has lost over 35% of its value since December 2022 due to unfavorable arbitration cases and high spending on launching Epkinly. The company's top line is currently dominated by royalties from Darzalex, but it hopes Epkinly will contribute significantly to its revenue. Genmab has a strong pipeline with eight revenue-generating medications, nine clinical programs, and nine royalty candidates in Phase 2 or later trials. The company also recently made an acquisition to bolster its pipeline with some ADC candidates. A full investment analysis around Genmab A/S stock is presented in the paragraphs below. Read the full article on Seeking Alpha
Seeking Alpha • Apr 16

Genmab Acquires A Missing Piece For Its Pipeline

Summary Genmab will acquire ProfoundBio for $1.8 billion in cash. The acquisition adds an important antibody drug conjugate ('ADC') platform, a missing piece in Genmab's platform. Genmab plans to advance ProfoundBio's lead candidate, Rina-S, to registrational trials with a potential approval as early as 2027. Rina-S has generated promising efficacy and safety in an early stage clinical trial in patients with ovarian and endometrial cancer. The ADC market is increasingly crowded, but an important market Genmab needs to expand into. Read the full article on Seeking Alpha
Seeking Alpha • Feb 21

Genmab: Recent Updates Support The Growth Narrative

Summary Genmab's 2023 annual report shows strong financial performance and continued clinical success, setting the company up for growth in 2024. The company's pipeline includes promising candidates and collaborations with industry giants, supporting future growth. Risks to consider include legal disputes and competition, but overall, Genmab's growth narrative remains intact. Read the full article on Seeking Alpha
Seeking Alpha • Jan 23

Genmab's Arbitration Loss: Best To Forgive And Forget (Rating Upgrade)

Summary Genmab's appeal against Johnson & Johnson in an arbitration case has been denied, eliminating the potential upside for the company. Despite this setback, Genmab remains well positioned to create shareholder value through continued revenue growth and pipeline progression and expansion. The launch of Epkinly/Tepkinly and the growth of other products are expected to reduce Genmab's reliance on Darzalex royalties. The head-to-head phase 2 data of GEN3014 and Darzalex represent the most important clinical catalyst for Genmab this year. Read the full article on Seeking Alpha
Seeking Alpha • Jan 12

Genmab: 3 Trends To Track For A Strong 2024 And Beyond

Summary Genmab is a leading contender in the biotech industry with innovative technology, a robust pipeline, and strategic collaborations. Epcoritamab's growth is a positive trend to monitor, as it has shown impressive financial performance and secured regulatory approvals in multiple regions. DARZALEX, Genmab's flagship product, continues to be a substantial revenue driver, and investors should monitor its clinical programs for potential growth. Read the full article on Seeking Alpha
Seeking Alpha • Oct 18

Genmab reports Q3 worldwide sales of $2.05B for Darzalex

Genmab (GMAB) has announced Q3 worldwide net trade sales of $2.05B for Darzalex (daratumumab) anti-cancer monoclonal antibody medication, compared with $1.99B generated in Q2. Net trade sales were USD 1.09B in the U.S. and USD 955M in the rest of the world. Genmab (GMAB) receives royalties on the worldwide net sales of Darzalex, both the intravenous and SC products, under the exclusive worldwide license to Johnson & Johnson (JNJ) subsidiary Janssen Biotech to develop, manufacture and commercialize daratumumab.
Seeking Alpha • Aug 08

Genmab improves FY 2022 guidance

Genmab (GMAB) improves FY 2022 guidance expects its 2022 revenue to be in the range of DKK 12,000M – 13,000M, an increase to the previous guidance of DKK 11,000M – 12,000M, driven primarily by the continued strong growth of DARZALEX net sales as well as the positive impact of the strong U.S. Dollar.  Such royalties are based on Genmab’s revised estimate of DARZALEX 2022 net sales of USD 7.8B – 8.2B compared to Genmab’s previous estimate of USD 7.5B – 8.0B. Anticipates its 2022 operating expenses to be in the range of DKK 7,600M – 8,200M, an increase to the previous guidance of DKK 7,200M – 7,800M, driven by increased investment related to pipeline progression and epcoritamab launch readiness activities as well as the negative impact of the strong U.S. Dollar. Operating profit to be in the range of DKK 3,800M – 5,400M, an increase to the previous guidance of DKK 3,200M – 4,800M.
Seeking Alpha • Jul 19

Genmab reports Q2 worldwide net sales of DARZALEX $1.99B

Genmab (GMAB) said global net sales of Darzalex reported by Johnson & Johnson (JNJ) rose 38.6% to $1.99B in Q2. Net trade sales were USD 1.02B in the U.S. and $965M in the rest of the world. Genmab receives royalties on the worldwide net sales of Darzalex, both the intravenous and subcutaneous formulations, under an license agreement with J&J unit Janssen Biotech. Shares are up 2.84% premarket.
Seeking Alpha • Jun 28

Genmab: A Royalty Powerhouse With A Strong Pipeline

Genmab is receiving substantial and growing royalties from big pharma partners. The royalties are helping the company build its pipeline and to establish its own commercial infrastructure. Epcoritamab could be Genmab's next blockbuster. The stock is not cheap but increasing investments should lead to increased profits in the long run.

Shareholder Returns

GMABUS BiotechsUS Market
7D4.4%3.4%-0.4%
1Y36.2%37.9%18.4%

Return vs Industry: GMAB underperformed the US Biotechs industry which returned 37.9% over the past year.

Return vs Market: GMAB exceeded the US Market which returned 18.4% over the past year.

Price Volatility

Is GMAB's price volatile compared to industry and market?
GMAB volatility
GMAB Average Weekly Movement5.1%
Biotechs Industry Average Movement10.5%
Market Average Movement7.3%
10% most volatile stocks in US Market16.6%
10% least volatile stocks in US Market3.2%

Stable Share Price: GMAB has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: GMAB's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19983,088Jan G.J. de Winkelwww.genmab.com

Genmab A/S, a biotechnology company, develops antibody-based products and product candidates for the treatment of cancer and other diseases in Denmark. The company markets EPKINLY and TEPKINLY for adult patients with relapsed or refractory (R/R) diffuse large b-cell lymphoma (DLBCL), large B-cell lymphoma, and follicular lymphoma (FL); and Tivdak for adult patients with recurrent/metastatic cervical cancer with disease progression on or after chemotherapy. It is also developing Epcoritamab for R/R DLBCL and FL, first line DLBCL and FL, B-cell non-Hodgkin lymphoma, R/R chronic lymphocytic leukemia and Richter’s syndrome, and aggressive mature B-cell neoplasms in pediatric patients; tisotumab vedotin for solid tumors; Acasunlimab for solid tumors and non-small cell lung cancer (NSCLC); Rinatabart Sesutecan for platinum resistant ovarian cancer and solid tumors; GEN1059, GEN1055, and GEN1057 for solid tumors; and GEN1286 for advanced solid tumors.

Genmab A/S Fundamentals Summary

How do Genmab's earnings and revenue compare to its market cap?
GMAB fundamental statistics
Market capUS$18.12b
Earnings (TTM)US$821.00m
Revenue (TTM)US$3.90b
22.1x
P/E Ratio
4.6x
P/S Ratio

Is GMAB overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
GMAB income statement (TTM)
RevenueUS$3.90b
Cost of RevenueUS$261.00m
Gross ProfitUS$3.64b
Other ExpensesUS$2.82b
EarningsUS$821.00m

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

Aug 06, 2026

Earnings per share (EPS)13.37
Gross Margin93.31%
Net Profit Margin21.05%
Debt/Equity Ratio91.7%

How did GMAB perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/09 23:53
End of Day Share Price 2026/07/09 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Genmab A/S is covered by 39 analysts. 22 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
James GordonBarclays
Xue ChenBarclays
Emily FieldBarclays