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Genmab kept at buy by Merrill
Genmab was retained at its buy rating but with a lowered price target of DKK 190 from DKK 205 by Merrill Lynch analyst Peter Welford. Amgen announced that it has reformulated Genmab's AMG714 arthritis antibody and moved back into preclinical tests, prior to phase 1 trials later in 2006. Merrill expects this move to delay potential launch of AMG714 by two years, to the second half of 2011. Shares of the Copenhagen, Denmark, pharmaceutical company were at DKK 189.5 on volume of 582,893 shares. (Copenhagen: GEN)
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