BUZZ-Genmab rises on better-than-expected Q4, guidance

Shares in Genmab GMAB.CO rise 4.6% after the Danish drugmaker reported its Q4 operating income and guidance above expectations

J.P.Morgan highlights EBIT and EBIT guidance beats as "small positives", the beats coming as a result of lower R&D spending

JPM also points to Q4 revenues 1% ahead of company consensus which was driven by a higher-than-expected cancer drug Darzalex royalty rate of 19%

Van Lanschot Kempen adds that the continued Darzalex sales growth can provide a "robust" royalty stream for the coming years

Both JPM and Kempen note that the HexaBody-CD38 programme weighs on the stock price and see Johnson & Johnson's JNJ.N decision in Q1 2025 as potentially unburdening the shares

The shares are on track for their best day in 2 months, if the gains hold