Genmab A/S (NASDAQ: GMAB) is recommended by billionaire Steve Cohen as one of the best biotech stocks to buy. Truist Securities increased its price target to $46 from $45 on July 8 due to a positive revenue outlook.

Truist Securities is confident in Genmab’s fair value based on revenue and pipeline potential. The firm raised the price target, highlighting optimism for Genmab’s revenue outlook for 2025.

Genmab A/S (NASDAQ: GMAB) specializes in developing antibody therapeutics for cancer treatment using advanced technologies like DuoBody and HexaBody. Truist Securities is positive about the company’s cancer drug Darzalex and other products, along with undervalued pipeline assets.

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This article was originally published on Insider Monkey.

Read more at Yahoo Finance: Truist Securities Hikes Genmab A/S (GMAB) Price Target Buoyed by Revenue Outlook