Genmab A/S’s (GMAB) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Genmab A/S (NASDAQ:GMAB) in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a $50.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley reissued an “equal weight” rating and set a $31.00 target price on shares of Genmab A/S in a report on Wednesday, September 11th. Truist Financial dropped their price objective on Genmab A/S from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Royal Bank of Canada upgraded Genmab A/S from a “sector perform” rating to an “outperform” rating in a report on Monday, July 15th. BTIG Research lifted their target price on Genmab A/S from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Genmab A/S in a report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Genmab A/S presently has a consensus rating of “Moderate Buy” and an average target price of $45.20.

Genmab A/S Stock Performance

Shares of GMAB stock opened at $22.60 on Wednesday. The firm has a market capitalization of $14.95 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98. Genmab A/S has a 1 year low of $22.52 and a 1 year high of $33.45. The stock has a fifty day moving average of $25.89 and a two-hundred day moving average of $27.18.

Genmab A/S (NASDAQ:GMAB) last announced its earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). Genmab A/S had a net margin of 29.06% and a return on equity of 17.48%. The company had revenue of $779.50 million during the quarter, compared to the consensus estimate of $734.60 million. Equities research analysts predict that Genmab A/S will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in shares of Genmab A/S by 360.5% in the 1st quarter. SG Americas Securities LLC now owns 29,500 shares of the company’s stock valued at $882,000 after acquiring an additional 23,094 shares in the last quarter. Capital International Investors boosted its position in shares of Genmab A/S by 7.8% in the first quarter. Capital International Investors now owns 4,373,277 shares of the company’s stock worth $130,805,000 after buying an additional 315,355 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Genmab A/S by 26.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 218,078 shares of the company’s stock valued at $5,480,000 after buying an additional 45,376 shares in the last quarter. Choreo LLC acquired a new position in Genmab A/S during the second quarter valued at $776,000. Finally, Renaissance Technologies LLC lifted its stake in Genmab A/S by 7.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,462,459 shares of the company’s stock worth $36,752,000 after acquiring an additional 103,859 shares in the last quarter. 7.07% of the stock is currently owned by institutional investors and hedge funds.

About Genmab A/S

Genmab A/S develops antibody therapeutics for the treatment of cancer and other diseases primarily in Denmark. The company markets DARZALEX, a human monoclonal antibody for the treatment of patients with multiple myeloma (MM); teprotumumab for the treatment of thyroid eye disease; and Amivantamab for advanced or metastatic gastric or esophageal cancer and NSCLC.