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 research analysts at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They currently have a $50.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 95.85% from the stock’s current price.

Several other research firms also recently weighed in on GMAB. BTIG Research lifted their target price on shares of Genmab A/S from $46.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Royal Bank of Canada upgraded shares of Genmab A/S from a “sector perform” rating to an “outperform” rating in a report on Monday, July 15th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Genmab A/S in a report on Tuesday, August 20th. Truist Financial dropped their price target on shares of Genmab A/S from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $31.00 price target on shares of Genmab A/S in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $45.20.

Genmab A/S Price Performance

Shares of NASDAQ GMAB opened at $25.53 on Friday. Genmab A/S has a 1 year low of $24.53 and a 1 year high of $37.00. The company has a 50 day simple moving average of $27.27 and a 200-day simple moving average of $27.99. The company has a market capitalization of $16.88 billion, a P/E ratio of 21.28, a P/E/G ratio of 0.81 and a beta of 0.99.

Genmab A/S (NASDAQ:GMAB) last posted its earnings results on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $734.60 million. As a group, research analysts expect that Genmab A/S will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Genmab A/S

A number of large investors have recently added to or reduced their stakes in GMAB. 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 worth $882,000 after buying an additional 23,094 shares during the last quarter. Harding Loevner LP lifted its position in Genmab A/S by 2.7% in the 4th quarter. Harding Loevner LP now owns 3,289,895 shares of the company’s stock valued at $97,569,000 after purchasing an additional 85,665 shares during the last quarter. Capital International Investors increased its stake in Genmab A/S by 7.8% during the 1st quarter. Capital International Investors now owns 4,373,277 shares of the company’s stock valued at $130,805,000 after buying an additional 315,355 shares during the period. Choreo LLC acquired a new position in Genmab A/S during the 2nd quarter valued at about $776,000. Finally, Oppenheimer Asset Management Inc. increased its stake in Genmab A/S by 26.3% during the 2nd 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 during the period. 7.07% of the stock is owned by institutional investors and hedge funds.

Genmab A/S Company Profile

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.