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Why Genmab Stock Popped on Friday

TheMotleyFool

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Why Genmab Stock Popped on Friday: https://g.foolcdn.com/editorial/images/836315/person-checking-medicine-on-a-shelf-in-a-pharmacy.jpg

Before the market open on the last trading day of the week, two analysts tracking (NASDAQ: GMAB) stock felt compelled to raise their price targets on the biotech. This double-barreled blast of bullishness pushed the company's shares more than 4% higher that trading session, easily beating the essentially stagnant S 500 (SNPINDEX: ^GSPC).

Not surprisingly, both lifts were based largely on Genmab's latest acquisition. On Tuesday, the company announced it struck a deal to acquire Dutch peer Merus in a purchase valued at $8 billion.

Image source: Getty Images.

Source Fool.com