Genmab Adr (GMAB)

Genmab A/S Stock (GMAB) dropped by 7.96% from $31.92 to $29.38 in the trading on Wednesday October 18, 2023. The reasons why GMAB stock down today include:

• Key drug Darzalex Q3 sales: Danish biotech reported that Darzalex, a multiple myeloma therapy the company markets with Johnson & Johnson (JNJ), generated $2.5B in net sales in Q3 2023, 2% less than what was expected by both companies.
• Concerns about Epkinly launch: Epkinly, Genmab's newly FDA-approved lymphoma drug, is navigating a competitive landscape with peer Roche's Columvi, impacting its market reception and potential earnings.
• Rating from analyst: Nordnet analyst Per Hansen flags Exane BNP Paribas' initiation of coverage with an 'underperform' rating due to Epkinly concerns, which is a headwind causing GMAB stock down today.