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

Genmab A/S (NASDAQ:GMAB)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $50.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 86.36% from the company’s previous close.

Several other equities analysts have also issued reports on the company. BTIG Research lifted their target price on Genmab A/S from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Truist Financial raised their price target on Genmab A/S from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Morgan Stanley reissued an “underweight” rating on shares of Genmab A/S in a report on Tuesday, March 26th. Finally, Royal Bank of Canada raised Genmab A/S from a “sector perform” rating to an “outperform” rating in a report on Monday. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $49.50.

Genmab A/S Price Performance

GMAB opened at $26.83 on Thursday. The business’s 50-day moving average is $27.25 and its two-hundred day moving average is $28.60. Genmab A/S has a 1 year low of $24.53 and a 1 year high of $42.72. The firm has a market capitalization of $17.74 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 0.98 and a beta of 0.97.

Genmab A/S (NASDAQ:GMAB) last posted its earnings results on Thursday, May 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Genmab A/S had a return on equity of 18.90% and a net margin of 30.74%. The company had revenue of $603.30 million for the quarter, compared to analyst estimates of $594.23 million. As a group, sell-side analysts expect that Genmab A/S will post 1.11 EPS for the current year.

Institutional Investors Weigh In On Genmab A/S

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC lifted its holdings in Genmab A/S by 22.8% in the second quarter. SG Americas Securities LLC now owns 36,234 shares of the company’s stock valued at $911,000 after acquiring an additional 6,734 shares during the period. Dynasty Wealth Management LLC acquired a new position in Genmab A/S in the first quarter valued at approximately $403,000. Bayesian Capital Management LP acquired a new position in Genmab A/S in the first quarter valued at approximately $342,000. Mount Yale Investment Advisors LLC acquired a new position in Genmab A/S in the first quarter valued at approximately $273,000. Finally, Capital International Investors lifted 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 acquiring an additional 315,355 shares during the period. Institutional investors and hedge funds own 7.07% of the company’s stock.

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.