Genmab A/S (NASDAQ:GMAB) Upgraded by Truist Financial to Strong-Buy Rating

Genmab A/S (NASDAQ:GMAB) was upgraded by analysts at Truist Financial to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

GMAB has been the subject of several other research reports. Wall Street Zen lowered shares of Genmab A/S from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Jefferies Financial Group initiated coverage on Genmab A/S in a research note on Tuesday, February 17th. They issued a “buy” rating and a $41.50 price target on the stock. Morgan Stanley initiated coverage on Genmab A/S in a research note on Monday, February 16th. They set an “equal weight” rating and a $34.00 price objective for the company. Wells Fargo & Company initiated coverage on shares of Genmab A/S in a research note on Monday, March 2nd. They issued an “overweight” rating and a $40.00 target price on the stock. Finally, Guggenheim dropped their target price on shares of Genmab A/S from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $40.58.

Genmab A/S Stock Performance

Shares of NASDAQ GMAB opened at $26.11 on Wednesday. The firm has a market capitalization of $16.78 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.06 and a beta of 0.94. Genmab A/S has a one year low of $17.24 and a one year high of $35.43. The business has a fifty day simple moving average of $29.68 and a 200 day simple moving average of $30.50. The company has a current ratio of 2.02, a quick ratio of 2.01 and a debt-to-equity ratio of 0.86.

Genmab A/S (NASDAQ:GMAB) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.41). Genmab A/S had a return on equity of 17.35% and a net margin of 25.89%.The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. Sell-side analysts expect that Genmab A/S will post 1.45 EPS for the current year.

Institutional Trading of Genmab A/S

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Orbis Allan Gray Ltd raised its holdings in shares of Genmab A/S by 30.2% in the fourth quarter. Orbis Allan Gray Ltd now owns 14,418,462 shares of the company’s stock valued at $444,089,000 after buying an additional 3,340,456 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Genmab A/S by 2.7% during the 3rd quarter. Alliancebernstein L.P. now owns 10,953,913 shares of the company’s stock worth $335,957,000 after acquiring an additional 291,538 shares during the last quarter. Paradigm Biocapital Advisors LP increased its position in Genmab A/S by 84.4% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,039,834 shares of the company’s stock valued at $216,827,000 after acquiring an additional 3,222,983 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Genmab A/S by 36.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,978,058 shares of the company’s stock valued at $153,324,000 after acquiring an additional 1,334,919 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Genmab A/S by 23.8% in the fourth quarter. Renaissance Technologies LLC now owns 3,492,850 shares of the company’s stock worth $107,580,000 after acquiring an additional 671,307 shares during the last quarter. 7.07% of the stock is currently owned by institutional investors and hedge funds.

About Genmab A/S

Genmab A/S is a Denmark-based biotechnology company specializing in the discovery and development of antibody therapeutics for the treatment of cancer. Since its founding in 1999 and with headquarters in Copenhagen, Genmab has built a robust research platform focused on harnessing novel antibody engineering technologies to create next-generation therapies. The company’s work centers on identifying targets in hematologic malignancies and solid tumors, advancing its proprietary molecules from early discovery through clinical development.

Genmab’s portfolio includes products developed in collaboration with leading global pharmaceutical partners.