Genmab A/S

NasdaqGS:GMAB Stock Report

Market Cap: US$19.5b

Genmab Future Growth

Future criteria checks 2/6

Genmab is forecast to grow earnings and revenue by 19.4% and 11.7% per annum respectively. EPS is expected to grow by 19.1% per annum. Return on equity is forecast to be 16.3% in 3 years.

Key information

19.4%

Earnings growth rate

19.15%

EPS growth rate

Biotechs earnings growth29.0%
Revenue growth rate11.7%
Future return on equity16.30%
Analyst coverage

Good

Last updated14 Sep 2026

Recent future growth updates

Recent updates

Seeking Alpha • Jul 22

Genmab: Multiple Late-Stage Readouts Ahead

Summary Genmab has underperformed so far this year despite strong commercial performance and largely positive pipeline news flow. Strong Q2 royalty product sales (Darzalex +18% Y/Y, Tecvayli +57% Y/Y) support expectations for a revenue beat and upward guidance revision. The company expects to report topline results from up to five late-stage trials of Epkinly, petosemtamab, and Rina-S. I remain optimistic on all five upcoming readouts and expect them to market the start of a new growth phase for Genmab but acknowledge competitive and clinical trial risks. In today's article, I provide a preview of these readouts. 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.

Earnings and Revenue Growth Forecasts

NasdaqGS:GMAB - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20286,2931,6471,8491,93418
12/31/20275,1851,0941,1921,26921
12/31/20264,4677679301,00119
6/30/20264,131788868891N/A
3/31/20263,901821872902N/A
12/31/20253,7209631,1311,186N/A
9/30/20253,8461,5831,2941,369N/A
6/30/20253,3791,2699611,037N/A
3/31/20253,2331,1361,1241,194N/A
12/31/20243,1211,1331,0821,126N/A
9/30/20242,9647029801,005N/A
6/30/20242,743798939971N/A
3/31/20242,576791775818N/A
1/1/20242,3906311,0171,071N/A
9/30/20232,389590806866N/A
6/30/20232,378680826885N/A
3/31/20232,216757902955N/A
12/31/20222,088785518563N/A
9/30/20221,580745459495N/A
6/30/20221,438558277315N/A
3/31/20221,342354201242N/A
12/31/20211,288452302341N/A
9/30/20211,232448148185N/A
6/30/20211,168401894928N/A
3/31/20211,703880856899N/A
12/31/20201,6607811,0061,056N/A
9/30/20201,7368891,1221,166N/A
6/30/20201,559853357399N/A
3/31/2020837349N/A383N/A
12/31/2019806325N/A199N/A
9/30/2019532223N/A198N/A
6/30/2019487178N/A190N/A
3/31/2019441202N/A180N/A
12/31/2018464226N/A156N/A
9/30/2018437222N/A165N/A
6/30/2018397194N/A140N/A
3/31/2018462213N/A215N/A
12/31/2017381178N/A256N/A
9/30/2017361184N/A200N/A
6/30/2017356208N/A218N/A
3/31/2017272174N/A156N/A
12/31/2016257168N/A46N/A
9/30/2016221111N/A99N/A
6/30/2016205102N/A88N/A
3/31/201618382N/A55N/A
12/31/2015165111N/A45N/A
9/30/201511666N/A10N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: GMAB's forecast earnings growth (19.4% per year) is above the savings rate (3.7%).

Earnings vs Market: GMAB's earnings (19.4% per year) are forecast to grow faster than the US market (17.2% per year).

High Growth Earnings: GMAB's earnings are forecast to grow, but not significantly.

Revenue vs Market: GMAB's revenue (11.7% per year) is forecast to grow slower than the US market (13.4% per year).

High Growth Revenue: GMAB's revenue (11.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: GMAB's Return on Equity is forecast to be low in 3 years time (16.3%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/14 23:49
End of Day Share Price 2026/09/14 00:00
Earnings2026/06/30
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 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 38 analysts. 21 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