Merrill retains Genmab at neutral

Merrill Lynch analyst Peter Welford kept Genmab at its neutral rating after an uneventful quarter and few changes to the first-quarter 2006 forecast. The analyst raised its revenue estimates for 2006 based on greater reimbursed costs from Serono and milestones from partner Roche. Genmab's management reiterated that HuMax-CD20 and EGFr are on track to enter phase 3 during the second quarter and by the summer of 2006, respectively, in line with Merrill's expectations. Shares of the Copenhagen, Denmark, biotechnology company were up Dkr4.00, or 1.88%, at Dkr216.50 on volume of 246,346 shares versus the three-month running average of 214,070 shares. (Copenhagen: GEN DC)

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