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    Genmab (CPSE:GMAB) Could Be 22% Below Fair Value On EPCORE Trial Update

    Simply Wall St·08/01/2026 10:25:32
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    Why the EPCORE DLBCL-1 Update Matters for Genmab Stock

    Genmab (CPSE:GMAB) is back in focus after the company and partner AbbVie clarified that the Phase 3 EPCORE DLBCL-1 trial for epcoritamab did not achieve its overall survival primary endpoint in the United States.

    See our latest analysis for Genmab.

    At a share price of DKK1,858.5, Genmab has recently seen a 30 day share price return of 3.25% and a 90 day share price return of 9.71%. The 1 year total shareholder return of 33.99% contrasts with weaker multi year total shareholder returns, which suggests that momentum has picked up again after a tougher longer term period as investors digest updates like the EPCORE DLBCL-1 outcome.

    If you are weighing how this kind of clinical news can shift interest across the sector, it can be useful to scan other healthcare companies using AI by checking out the 128 healthcare AI stocks

    Genmab appears to be a robust antibody platform business, and the EPCORE DLBCL-1 news has not derailed the recent share price recovery. The key question now is whether that strength is already fully reflected in the current valuation.

    Most Popular Narrative: 22.3% Undervalued

    Genmab's most followed narrative puts fair value at DKK2,392.08, which sits well above the last close at DKK1,858.5 and frames the recent EPCORE DLBCL-1 news inside a much broader earnings story.

    Strong late stage pipeline progress including positive Phase III results for epcoritamab (EPKINLY) and expansion of Rina S programs positions Genmab to benefit from the growing global burden of cancer and rising demand for innovative biologic therapies, supporting significant future revenue and earnings growth.

    Read the complete narrative.

    Want to understand why this narrative still sees upside for Genmab despite recent trial headlines? The core assumptions hinge on how fast revenue compounds, how margins shift, and what kind of earnings multiple the market is willing to pay for that profile. The details sit in a tight set of forward estimates and a single discount rate that ties it all back to today's DKK price.

    Result: Fair Value of DKK2,392.08 (UNDERVALUED)

    Have a read of the narrative in full and understand what's behind the forecasts.

    However, this hinges on key risks for Genmab, including how the Darzalex patent expiry is managed and whether upcoming Epkinly trial results meet current analyst expectations.

    Find out about the key risks to this Genmab narrative.

    Next Steps

    Mixed signals around Genmab can make the story feel finely balanced, so it can be useful to move quickly and review the full set of 2 key rewards and 2 important warning signs

    Looking for more investment ideas beyond Genmab?

    If you only focus on Genmab, you could miss other opportunities that fit your style. Use the Simply Wall St Screener to compare fresh ideas side by side.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.