Genmab Stock Surges on $8B Merus Acquisition
Genmab's stock surged nearly 5% following the announcement of its acquisition of Merus, outperforming the S&P 500's marginal rise. The deal, valued at $8 billion, is expected to close in the first quarter of 2026.
The acquisition, approved by both companies' boards, will see Genmab pay $97 per share in cash for Merus. This move aims to accelerate Genmab's shift to a wholly owned model and drive sustained growth into the next decade.
Analysts have responded positively to the news. Yaron Werber of TD Cowen raised his price target on Genmab to $32 per share, up from $24, while maintaining a hold recommendation. Meanwhile, Asthika Goonewardene of Truist Securities reiterated her buy recommendation, increasing her price target to $46 per share. She cited the attractive price for Merus's late-stage cancer drug petosemtamab as a key factor.
Genmab's acquisition of Merus, valued at $8 billion, is expected to close in early 2026. The deal has been welcomed by analysts, with price targets increasing and positive recommendations. This acquisition is set to accelerate Genmab's strategic shift and drive growth.
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