Merrill Lynch maintains Genmab at buy

Genmab was maintained by Merrill Lynch analyst Peter Welford at a buy rating with a DKK 150 price target after results of HuMax-CD20 phase 2/3 data were positive, comparing favorably to Rituxan's 56% response rate in phase 3 trials. Merrill Lynch said it believes HuMax-CD20 could achieve $700 million in sales by 2012. But, further clinical data could demonstrate no clear superior efficacy over Rituxan, Merrill Lynch added. Shares of the Copenhagan, Denmark, biotechnology company were up DKK 1.50, or 1.17% at DKK 130.00 on volume of 171,960 shares versus the three-month running average of 129,664 shares.

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