HSBC for eksempel fra marts:
https://penge.borsen.dk/artikel/1/377789/hsbc_loefter_kursmaal_for_genmab.html

Jeg interesserer mig personligt ikke saa meget for kursmaal, men jeg kan godt lide at laese begrundelserne for diverse kursmaal. Her for eksempel Morningstar:

(www.morningstar.com)

We are upgrading Copenhagen-based Genmab to a narrow economic moat after reconsidering the intangible assets associated with its lead drug, Darzalex (partnered with Johnson & Johnson). We're also increasing our fair value estimate to DKK 1,480 per share due to higher expectations for Darzalex and a longer period of excess profits, in line with our new narrow moat rating.

Our valuation is largely driven by our expectations for Darzalex in multiple myeloma and, to a lesser extent, our expectations for ofatumumab in multiple sclerosis, tisotumab vedotin in cervical cancer, and teprotumumab in thyroid eye disease. We think Darzalex will be a mainstay treatment in multiple myeloma due to its notable efficacy and safety profile. By 2028, we model over $9 billion in Darzalex sales, which corresponds to about DKK 11 billion in royalties to Genmab, up from about $2 billion in 2018 sales and DKK 1.6 billion in 2018 royalties.

The rest of Genmab's portfolio contributes modestly to our valuation, with revenue outside of Darzalex making up about 21% of total sales by 2028. Pipeline success from early-stage assets, which we don't yet model, could provide upside from our valuation. We think that Darzalex's commercial success will provide Genmab with ample resources to develop its pipeline of antibodies and bispecifics in cancer in the long term.

Our narrow moat rating hinges on Darzalex's position in the multiple myeloma market, which we think is well protected from competition. Aside from patent protection against generic entry, we think Darzalex sets a high bar for competitor therapies on both efficacy and safety. Further, given Darzalex's success in combination treatments so far, we think it's likely that emerging therapies are also used in combination with Darzalex, making them complementary assets rather than head-to-head competitors. By the end of our 10-year forecast, we assume Darzalex has about 40% dollar share of the multiple myeloma market.

https://penge.borsen.dk/artikel/1/392345/seb_loefter_genmab-kursmaal_til_1535_kr_fra_1200_kr.html

79831_Genmab.xlsx