William Blair Research Analysts Raise Earnings Estimates for Genmab A/S (NASDAQ:GMAB)

Genmab A/S (NASDAQ:GMAB) – Investment analysts at William Blair upped their Q2 2024 earnings estimates for shares of Genmab A/S in a research note issued on Tuesday, July 16th. William Blair analyst M. Phipps now anticipates that the company will post earnings of $0.34 per share for the quarter, up from their prior estimate of $0.33. The consensus estimate for Genmab A/S’s current full-year earnings is $1.11 per share. William Blair also issued estimates for Genmab A/S’s FY2024 earnings at $1.09 EPS.

Genmab A/S (NASDAQ:GMAB) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Genmab A/S had a net margin of 30.74% and a return on equity of 18.90%. The company had revenue of $603.30 million during the quarter, compared to the consensus estimate of $594.23 million.

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

Genmab A/S Stock Performance

NASDAQ GMAB opened at $27.24 on Wednesday. Genmab A/S has a 52-week low of $24.53 and a 52-week high of $42.72. The company has a market capitalization of $18.01 billion, a P/E ratio of 22.70, a P/E/G ratio of 0.98 and a beta of 0.97. The company has a fifty day moving average of $27.22 and a 200-day moving average of $28.59.

Hedge Funds Weigh In On Genmab A/S

Several hedge funds and other institutional investors have recently modified their holdings of GMAB. Wellington Management Group LLP increased its position in shares of Genmab A/S by 0.3% during the third quarter. Wellington Management Group LLP now owns 2,425,381 shares of the company’s stock valued at $85,543,000 after buying an additional 8,244 shares during the period. Citigroup Inc. increased its position in shares of Genmab A/S by 148.2% during the third quarter. Citigroup Inc. now owns 21,545 shares of the company’s stock valued at $760,000 after buying an additional 12,863 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Genmab A/S by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,691 shares of the company’s stock valued at $118,000 after buying an additional 936 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Genmab A/S by 350.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,845 shares of the company’s stock valued at $154,000 after buying an additional 3,770 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Genmab A/S during the fourth quarter valued at about $393,000. 7.07% of the stock is owned by institutional investors.

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.