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

Genmab A/S (NASDAQ:GMAB)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a note issued to investors on Monday, Benzinga reports. They currently have a $40.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 23.19% from the stock’s previous close.

GMAB has been the subject of a number of other research reports. Guggenheim lifted their price objective on Genmab A/S from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Weiss Ratings raised shares of Genmab A/S from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 1st. TD Cowen upgraded shares of Genmab A/S from a “hold” rating to a “buy” rating and raised their price objective for the company from $32.00 to $43.00 in a research note on Wednesday, July 22nd. New Street Research set a $43.00 target price on shares of Genmab A/S in a research note on Wednesday, July 22nd. Finally, Truist Financial began coverage on shares of Genmab A/S in a report on Wednesday, May 27th. They set a “buy” rating and a $40.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Genmab A/S has an average rating of “Moderate Buy” and a consensus target price of $39.50.

Genmab A/S Stock Performance

NASDAQ GMAB opened at $32.47 on Monday. The firm has a market capitalization of $20.25 billion, a PE ratio of 25.57, a P/E/G ratio of 1.83 and a beta of 0.84. The stock’s 50 day moving average is $31.00 and its 200 day moving average is $28.26. Genmab A/S has a twelve month low of $23.62 and a twelve month high of $35.43. The company has a quick ratio of 2.44, a current ratio of 2.46 and a debt-to-equity ratio of 0.81.

Genmab A/S (NASDAQ:GMAB) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.37 by $0.17. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.12 billion. Genmab A/S had a return on equity of 14.89% and a net margin of 19.08%. Research analysts forecast that Genmab A/S will post 1.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in shares of Genmab A/S by 124.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,114 shares of the company’s stock valued at $44,000 after acquiring an additional 1,174 shares during the last quarter. Sei Investments Co. grew its stake in shares of Genmab A/S by 4.2% in the 2nd quarter. Sei Investments Co. now owns 62,111 shares of the company’s stock worth $1,283,000 after buying an additional 2,496 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Genmab A/S by 636.3% in the 2nd quarter. Squarepoint Ops LLC now owns 94,233 shares of the company’s stock worth $1,947,000 after buying an additional 81,434 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Genmab A/S by 64.9% during the 2nd quarter. Quantinno Capital Management LP now owns 158,132 shares of the company’s stock valued at $3,267,000 after buying an additional 62,226 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in shares of Genmab A/S by 48.1% in the 2nd quarter. Raymond James Financial Inc. now owns 31,146 shares of the company’s stock valued at $643,000 after acquiring an additional 10,113 shares during 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 biotechnology company headquartered in Copenhagen, Denmark, focused on discovering, developing and commercializing differentiated antibody-based medicines. The company’s research platforms include technologies designed to create human antibodies and bispecific antibodies that engage the immune system to target cancer and other serious diseases.

Genmab’s products and partnered medicines include DARZALEX (daratumumab) for multiple myeloma, developed with Johnson & Johnson; Kesimpta (ofatumumab) for multiple sclerosis, developed with Novartis; and Tivdak (tisotumab vedotin) for cervical cancer, developed with Pfizer.