HC Wainwright Reaffirms Buy Rating for Genmab A/S (NASDAQ:GMAB)

Genmab A/S (NASDAQ:GMAB)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $50.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 75.01% from the company’s current price.

Several other brokerages have also weighed in on GMAB. Truist Financial reiterated a “buy” rating and set a $50.00 price objective on shares of Genmab A/S in a report on Tuesday, March 26th. Citigroup downgraded shares of Genmab A/S from a “neutral” rating to a “sell” rating in a research note on Monday, January 22nd. Morgan Stanley reissued an “underweight” rating on shares of Genmab A/S in a research note on Tuesday, March 26th. Finally, BMO Capital Markets upgraded Genmab A/S from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $46.00 to $48.00 in a report on Friday, February 23rd. Three analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Genmab A/S currently has a consensus rating of “Hold” and a consensus price target of $48.50.

Genmab A/S Stock Performance

Shares of GMAB opened at $28.57 on Tuesday. Genmab A/S has a fifty-two week low of $26.32 and a fifty-two week high of $42.72. The company has a market capitalization of $18.89 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 2.02 and a beta of 0.98. The stock has a fifty day moving average of $29.44 and a two-hundred day moving average of $29.97.

Genmab A/S (NASDAQ:GMAB) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Genmab A/S had a return on equity of 18.06% and a net margin of 26.50%. The business had revenue of $675.29 million during the quarter, compared to the consensus estimate of $678.14 million. As a group, equities research analysts forecast that Genmab A/S will post 1.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. HBK Sorce Advisory LLC grew its holdings in Genmab A/S by 4.8% during the 3rd quarter. HBK Sorce Advisory LLC now owns 9,139 shares of the company’s stock worth $322,000 after acquiring an additional 419 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Genmab A/S by 86.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,075 shares of the company’s stock valued at $38,000 after buying an additional 498 shares during the last quarter. Park Place Capital Corp boosted its position in shares of Genmab A/S by 12.3% during the fourth quarter. Park Place Capital Corp now owns 4,891 shares of the company’s stock worth $156,000 after buying an additional 535 shares during the period. Grandfield & Dodd LLC grew its holdings in Genmab A/S by 2.3% in the 4th quarter. Grandfield & Dodd LLC now owns 25,558 shares of the company’s stock worth $814,000 after buying an additional 565 shares in the last quarter. Finally, Pinnacle Bancorp Inc. increased its position in Genmab A/S by 315.8% in the 4th quarter. Pinnacle Bancorp Inc. now owns 840 shares of the company’s stock valued at $27,000 after acquiring an additional 638 shares during the period. Hedge funds and other 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.