Genmab A/S (NASDAQ:GMAB) Reaches New 1-Year High – Here’s Why

Genmab A/S Sponsored ADR (NASDAQ:GMAB) shares reached a new 52-week high on Tuesday . The company traded as high as $33.67 and last traded at $33.65, with a volume of 1371892 shares changing hands. The stock had previously closed at $33.06.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GMAB shares. Johnson Rice reaffirmed a “buy” rating on shares of Genmab A/S in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genmab A/S in a research note on Wednesday, October 8th. Truist Financial reaffirmed a “buy” rating and issued a $48.00 price target (down previously from $49.00) on shares of Genmab A/S in a research note on Thursday, November 6th. HC Wainwright increased their price target on Genmab A/S from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Finally, Guggenheim upgraded shares of Genmab A/S from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.75.

Genmab A/S Stock Down 1.4%

The company has a market cap of $21.32 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.75 and a beta of 0.90. The firm has a 50-day simple moving average of $30.80 and a 200 day simple moving average of $26.92.

Genmab A/S (NASDAQ:GMAB) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.48 by $0.17. Genmab A/S had a net margin of 41.36% and a return on equity of 23.98%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $975.40 million. As a group, research analysts expect that Genmab A/S Sponsored ADR will post 1.45 EPS for the current year.

Hedge Funds Weigh In On Genmab A/S

Hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC increased its position in Genmab A/S by 1,229.0% during the 3rd quarter. NewEdge Advisors LLC now owns 1,236 shares of the company’s stock worth $38,000 after purchasing an additional 1,143 shares during the period. Brown Brothers Harriman & Co. boosted its stake in shares of Genmab A/S by 143.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,324 shares of the company’s stock worth $41,000 after acquiring an additional 780 shares in the last quarter. Community Bank N.A. purchased a new position in Genmab A/S in the 3rd quarter valued at approximately $47,000. Cromwell Holdings LLC boosted its position in Genmab A/S by 136.3% during the third quarter. Cromwell Holdings LLC now owns 1,531 shares of the company’s stock worth $47,000 after purchasing an additional 883 shares in the last quarter. Finally, Osaic Holdings Inc. increased its position in shares of Genmab A/S by 37.8% in the second quarter. Osaic Holdings Inc. now owns 1,603 shares of the company’s stock valued at $33,000 after buying an additional 440 shares in the last quarter. 7.07% of the stock is currently owned by hedge funds and other institutional investors.

About Genmab A/S

Genmab A/S is a Denmark-based biotechnology company specializing in the discovery and development of antibody therapeutics for the treatment of cancer. Since its founding in 1999 and with headquarters in Copenhagen, Genmab has built a robust research platform focused on harnessing novel antibody engineering technologies to create next-generation therapies. The company’s work centers on identifying targets in hematologic malignancies and solid tumors, advancing its proprietary molecules from early discovery through clinical development.

Genmab’s portfolio includes products developed in collaboration with leading global pharmaceutical partners.