Why Genmab Stock Was Marching Higher Today

Core Insights - Genmab, a Denmark-based biotech company, announced a significant acquisition of Merus for $8 billion, paying $97 per share in cash, which has been positively received by analysts and the market [2][3] Group 1: Acquisition Details - The acquisition of Merus is expected to close in the first calendar quarter of 2026 and is seen as a strategic move to accelerate Genmab's transition to a wholly owned model, diversifying revenue and driving growth [2][3] - Analysts view the acquisition as beneficial, particularly highlighting the attractive price for Merus's late-stage cancer drug, petosemtamab [3] Group 2: Analyst Reactions - Truist Securities analyst Asthika Goonewardene reiterated a buy recommendation for Genmab with a price target of $46 per share [3] - TD Cowen's Yaron Werber raised his price target for Genmab from $24 to $32 per share, maintaining a hold recommendation, indicating a more cautious outlook [4] Group 3: Market Performance - Following the acquisition announcement, Genmab's stock rose nearly 5%, significantly outperforming the S&P 500, which only saw a marginal increase of 0.1% [1]