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Why is Genmab Adr (GMAB) Stock down?
We've noticed a 5.44% decline in Genmab Adr (GMAB) stock during the 2024-09-23 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
18 Oct, 2023:
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.
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