Truist Financial Trims Genmab A/S (NASDAQ:GMAB) Target Price to $50.00

Genmab A/S (NASDAQ:GMAB) had its price target lowered by investment analysts at Truist Financial from $53.00 to $50.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 82.48% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Genmab A/S in a research note on Tuesday, August 20th. Royal Bank of Canada raised shares of Genmab A/S from a “sector perform” rating to an “outperform” rating in a research note on Monday, July 15th. Morgan Stanley reissued an “equal weight” rating and issued a $31.00 price objective on shares of Genmab A/S in a research note on Wednesday, September 4th. BTIG Research boosted their price objective on shares of Genmab A/S from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Genmab A/S in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Genmab A/S presently has a consensus rating of “Hold” and an average price target of $45.20.

Genmab A/S Trading Down 0.4 %

Shares of NASDAQ GMAB traded down $0.12 during trading hours on Monday, reaching $27.40. The stock had a trading volume of 33,335 shares, compared to its average volume of 574,513. The firm has a market cap of $18.12 billion, a price-to-earnings ratio of 22.83, a P/E/G ratio of 0.87 and a beta of 0.99. The business’s fifty day moving average price is $27.05 and its two-hundred day moving average price is $28.13. Genmab A/S has a 52-week low of $24.53 and a 52-week high of $38.80.

Genmab A/S (NASDAQ:GMAB) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The firm had revenue of $779.50 million during the quarter, compared to analysts’ expectations of $734.60 million. Genmab A/S had a net margin of 29.06% and a return on equity of 17.48%. Equities research analysts anticipate that Genmab A/S will post 1.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genmab A/S

Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its position in shares of Genmab A/S by 137.7% in the 1st quarter. Russell Investments Group Ltd. now owns 939 shares of the company’s stock valued at $28,000 after acquiring an additional 544 shares during the period. GAMMA Investing LLC increased its position in shares of Genmab A/S by 194.0% in the 1st quarter. GAMMA Investing LLC now owns 1,135 shares of the company’s stock valued at $34,000 after acquiring an additional 749 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Genmab A/S in the 1st quarter valued at $43,000. Principal Securities Inc. acquired a new position in shares of Genmab A/S in the 4th quarter valued at $77,000. Finally, Barometer Capital Management Inc. purchased a new stake in Genmab A/S in the fourth quarter valued at $121,000. 7.07% of the stock is owned by institutional investors and hedge funds.

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.