12 High Growth Large Cap Stocks to Buy Now

3) Genmab A/S (NASDAQ:GMAB)

 5-Year Revenue Growth: ~40.3%

Average Upside Potential: ~63.04%

Market cap as of 12 November: $14.5 billion

Genmab A/S (NASDAQ:GMAB) is engaged in developing antibody therapeutics for the treatment of cancer and other diseases primarily in Denmark.

In a significant move to further strengthen its position, Genmab A/S (NASDAQ:GMAB) completed a $1.8 billion acquisition of ProFound Bio. This was a strategic decision targeted at enhancing its market position and expanding its technological capabilities. Experts remain optimistic about this acquisition as the transaction provided Genmab A/S (NASDAQ:GMAB) worldwide rights to ProfoundBio’s portfolio of next-generation ADCs, further strengthening its clinical pipeline.

Additionally, the transaction provided the company with access to ProfoundBio’s novel ADC technology platforms. These complement Genmab A/S (NASDAQ:GMAB)’s already validated suite of proprietary technology platforms. The combination of technology platforms of both companies might create new opportunities to garner and develop new medicines with the potential to transform the treatment of cancer and improve patients’ lives.

The analysts believe that Genmab A/S (NASDAQ:GMAB)’s antibody therapeutics have placed it as a significant player in the field, with products such as Darzalex achieving commercial success. Moreover, the recent launch of Epkinly (epcoritamab) should act as a potential game-changer. Notably, this can become a backbone in diffuse large B-cell lymphoma (DLBCL) treatment. This places Genmab A/S (NASDAQ:GMAB) favorably against competitors in the lymphoma space.

Genmab A/S (NASDAQ:GMAB)’s continued innovation in antibody therapeutics is expected to lead to breakthrough treatments and should help it sustain a competitive edge. Analysts at BMO Capital Markets reissued an “Outperform” rating on the company’s shares, setting a price target of $48.00 (up from $46.00) on 8^th November 2024.