Genmab A/S (NASDAQ:GMAB) Shares Gap Up – Time to Buy?

Genmab A/S (NASDAQ:GMAB) gapped up prior to trading on Wednesday . The stock had previously closed at $20.03, but opened at $20.76. Genmab A/S shares last traded at $20.71, with a volume of 171,097 shares traded.

Analyst Ratings Changes

A number of equities analysts recently commented on GMAB shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $31.00 target price on shares of Genmab A/S in a report on Wednesday, September 11th. HC Wainwright restated a “buy” rating and issued a $50.00 price objective on shares of Genmab A/S in a research report on Wednesday, October 16th. BMO Capital Markets reissued an “outperform” rating and issued a $48.00 price target (up previously from $46.00) on shares of Genmab A/S in a research note on Friday, November 8th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Genmab A/S in a research report on Tuesday, August 20th. Finally, Truist Financial lowered their target price on shares of Genmab A/S from $53.00 to $50.00 and set a “buy” rating for the company in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.20.

Genmab A/S Stock Performance

The business’s 50-day moving average is $22.01 and its 200-day moving average is $24.93. The firm has a market cap of $13.69 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 0.67 and a beta of 0.96.

Genmab A/S (NASDAQ:GMAB) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.03). Genmab A/S had a net margin of 23.49% and a return on equity of 14.64%. The company had revenue of $816.10 million during the quarter, compared to the consensus estimate of $838.20 million. During the same period in the prior year, the company earned $0.47 earnings per share. Equities research analysts expect that Genmab A/S will post 1.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GMAB. Allspring Global Investments Holdings LLC raised its stake in Genmab A/S by 123.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,240 shares of the company’s stock valued at $81,000 after buying an additional 1,787 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Genmab A/S by 892.0% during the third quarter. Blue Trust Inc. now owns 4,315 shares of the company’s stock worth $108,000 after acquiring an additional 3,880 shares during the last quarter. Headlands Technologies LLC grew its position in Genmab A/S by 1,702.8% during the 2nd quarter. Headlands Technologies LLC now owns 5,138 shares of the company’s stock worth $129,000 after purchasing an additional 4,853 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Genmab A/S by 7.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 7,227 shares of the company’s stock worth $182,000 after buying an additional 478 shares during the period. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of Genmab A/S in the third quarter valued at approximately $192,000. Institutional investors own 7.07% of the company’s stock.

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.