Genmab has announced the acquisition of Merus in an $8 billion deal, leading to a positive outlook from investors and analysts. Two analysts raised their price targets on Genmab stock, with one setting a new fair-value assessment at $40 per share. The acquisition is largely based on the potential of the investigational cancer drug petosemtamab, which has shown promising results in clinical trials. Another analyst raised the price target to $49 per share, emphasizing the upcoming readout of petosemtamab results. Consider joining Stock Advisor for more investment opportunities.

Read more at Nasdaq: Why Genmab Stock Popped on Friday