Genmab A/S (NASDAQ:GMAB) Earns “Equal Weight” Rating from Morgan Stanley

Genmab A/S (NASDAQ:GMAB)‘s stock had its “equal weight” rating reissued by investment analysts at Morgan Stanley in a note issued to investors on Wednesday, Benzinga reports. They currently have a $31.00 price target on the stock. Morgan Stanley’s target price suggests a potential upside of 15.80% from the stock’s previous close.

A number of other equities analysts have also commented on GMAB. BTIG Research boosted their price target on shares of Genmab A/S from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Truist Financial reduced their target price on Genmab A/S from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Genmab A/S in a report on Tuesday, August 20th. HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Genmab A/S in a report on Tuesday, August 27th. Finally, Royal Bank of Canada raised Genmab A/S from a “sector perform” rating to an “outperform” rating in a report on Monday, July 15th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.20.

Genmab A/S Stock Performance

NASDAQ GMAB traded down $0.73 during trading on Wednesday, reaching $26.77. 113,078 shares of the company traded hands, compared to its average volume of 572,791. Genmab A/S has a 1-year low of $24.53 and a 1-year high of $38.80. The stock’s 50 day moving average price is $27.16 and its two-hundred day moving average price is $28.10. The company has a market cap of $17.70 billion, a price-to-earnings ratio of 22.34, a P/E/G ratio of 0.87 and a beta of 0.99.

Genmab A/S (NASDAQ:GMAB) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) 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. Equities research analysts expect that Genmab A/S will post 1.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

A number of institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. raised its position in shares of Genmab A/S by 137.7% during 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 last quarter. GAMMA Investing LLC increased its holdings in Genmab A/S by 194.0% in the first quarter. GAMMA Investing LLC now owns 1,135 shares of the company’s stock valued at $34,000 after purchasing an additional 749 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Genmab A/S in the first quarter valued at about $43,000. Principal Securities Inc. bought a new position in Genmab A/S during the fourth quarter worth about $77,000. Finally, Barometer Capital Management Inc. acquired a new position in shares of Genmab A/S during the 4th quarter worth about $121,000. 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.