Merrill retains Genmab at buy

Genmab was maintained at buy by Merrill Lynch analyst Peter Welford. The company reported third-quarter revenues below Merrill's forecast due to revised accounting for the recognition of revenues from a licensing agreement with Serono. Welford noted, however, that expenses were below estimate due to lower research and development costs and described Genmab as having one of the most attractive product pipelines in the European biotech industry. Shares of Copenhagen-based biotechnology company were down $3.50, or 2.82%, at $120.50 on volume of 143,910 shares versus the three-month running average of 147,433 shares.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.