Genmab A/S (NASDAQ:GMAB) boosted its full-year 2026 revenue guidance to a range of $4.325 billion to $4.525 billion, up from its previous outlook of $4.065 billion to $4.395 billion. The upward revision underscores the strong commercial momentum across the company's royalty streams and proprietary portfolio.
For the first half of 2026, GMAB reported total revenue of $2,051 million, representing a 25% year-over-year growth. Royalty revenue increased 24% to $1,708 million, heavily supported by $8,171 million in net sales of DARZALEX by Johnson & Johnson. Meanwhile, global net sales of EPKINLY/TEPKINLY surged 48% to $312 million. Operating profit came in at $555 million, while adjusted operating profit rose 18% to $656 million.
Following the robust print, Guggenheim ****** yst Michael Schmidt raised the firm's price target on Genmab to $42 from $40 while maintaining a Buy rating on August 7.
This brings up a key question: Does this guidance raise reflect a permanent, high-margin inflection for Genmab A/S (NASDAQ:GMAB)'s pipeline, or will rising operating expenses eventually weigh on its bottom line?
Genmab's broad-based top-line expansion, driven equally by DARZALEX royalties and EPKINLY net sales, demonstrates a diversified, partner-plus-proprietary revenue model. This setup reduces reliance on any single product, securing predictable royalties that fund ongoing commercial rollouts. Furthermore, a Phase III PFS win for epcoritamab in B-cell malignancies strengthens its clinical proof, expanding label potential and long-term royalty streams across geographies. Additionally, Genmab's high cash conversion and strong balance sheet provide ample organic financing to fund late-stage programs without risking shareholder dilution.
#genmab #gmab #billion #year
For the first half of 2026, GMAB reported total revenue of $2,051 million, representing a 25% year-over-year growth. Royalty revenue increased 24% to $1,708 million, heavily supported by $8,171 million in net sales of DARZALEX by Johnson & Johnson. Meanwhile, global net sales of EPKINLY/TEPKINLY surged 48% to $312 million. Operating profit came in at $555 million, while adjusted operating profit rose 18% to $656 million.
Following the robust print, Guggenheim ****** yst Michael Schmidt raised the firm's price target on Genmab to $42 from $40 while maintaining a Buy rating on August 7.
This brings up a key question: Does this guidance raise reflect a permanent, high-margin inflection for Genmab A/S (NASDAQ:GMAB)'s pipeline, or will rising operating expenses eventually weigh on its bottom line?
Genmab's broad-based top-line expansion, driven equally by DARZALEX royalties and EPKINLY net sales, demonstrates a diversified, partner-plus-proprietary revenue model. This setup reduces reliance on any single product, securing predictable royalties that fund ongoing commercial rollouts. Furthermore, a Phase III PFS win for epcoritamab in B-cell malignancies strengthens its clinical proof, expanding label potential and long-term royalty streams across geographies. Additionally, Genmab's high cash conversion and strong balance sheet provide ample organic financing to fund late-stage programs without risking shareholder dilution.
#genmab #gmab #billion #year
2 months ago
