Genmab Raises Full-Year Revenue Guidance Amid Strong Royalty Growth
Genmab A/S (NASDAQ:GMAB) has raised its full-year revenue guidance for 2026 to a range of $4.325 billion to $4.525 billion, driven by strong performance in royalty streams and proprietary products like EPKINLY/TEPKINLY. The company reported first-half total revenue of $2,051 million—a 25% year-over-year increase—with royalty revenue rising 24% due largely to Johnson & Johnson's net sales of DARZALEX reaching $8,171 million. Analyst Michael Schmidt from Guggenheim raised the price target for Genmab stock to $42 while maintaining a Buy rating. The company’s diversified model and high cash conversion are seen as positives; however, rising operating expenses and potential margin compression remain concerns. Institutional interest in GMAB has also increased, with 30 hedge funds holding positions in Q1 2026 compared to 24 in the previous quarter. Investors should monitor Genmab’s ability to sustain royalty growth without eroding margins and watch for regulatory updates on epcoritamab's expanded indications. These factors will be key in determining whether GMAB can meet or exceed Wall Street expectations.
Topics: analyst upgrade operating profit revenue guidance royalty growth