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

Genmab A/S (NASDAQ:GMAB)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They currently have a $50.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 88.82% from the stock’s previous close.

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

Genmab A/S Price Performance

GMAB stock opened at $26.48 on Friday. The company has a market capitalization of $17.51 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 0.81 and a beta of 0.99. Genmab A/S has a 12 month low of $24.53 and a 12 month high of $37.97. The firm’s fifty day simple moving average is $27.30 and its 200-day simple moving average is $28.01.

Genmab A/S (NASDAQ:GMAB) last announced its quarterly 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 return on equity of 17.48% and a net margin of 29.06%. The company had revenue of $779.50 million for the quarter, compared to analyst estimates of $734.60 million. As a group, sell-side analysts forecast that Genmab A/S will post 1.27 earnings per share for the current year.

Hedge Funds Weigh In On Genmab A/S

Several institutional investors have recently modified their holdings of the business. Capital International Investors boosted its holdings in Genmab A/S by 7.8% in the first quarter. Capital International Investors now owns 4,373,277 shares of the company’s stock valued at $130,805,000 after purchasing an additional 315,355 shares during the period. Harding Loevner LP grew its position in shares of Genmab A/S by 2.7% during the fourth quarter. Harding Loevner LP now owns 3,289,895 shares of the company’s stock worth $97,569,000 after buying an additional 85,665 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Genmab A/S by 7.6% during the second quarter. Renaissance Technologies LLC now owns 1,462,459 shares of the company’s stock worth $36,752,000 after buying an additional 103,859 shares in the last quarter. First Trust Advisors LP lifted its stake in Genmab A/S by 16.0% in the fourth quarter. First Trust Advisors LP now owns 1,270,095 shares of the company’s stock worth $40,440,000 after acquiring an additional 175,292 shares during the last quarter. Finally, DDD Partners LLC acquired a new position in shares of Genmab A/S during the second quarter worth $8,860,000. Institutional investors and hedge funds 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.