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

Genmab A/S (NASDAQ:GMAB)‘s stock had its “equal weight” rating reissued by stock analysts at Morgan Stanley in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $34.00 target price on the stock. Morgan Stanley’s price target would indicate a potential upside of 13.22% from the company’s previous close.

A number of other equities research analysts also recently weighed in on GMAB. Zacks Research downgraded shares of Genmab A/S from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. Truist Financial reaffirmed a “buy” rating and set a $48.00 target price (down previously from $49.00) on shares of Genmab A/S in a report on Thursday, November 6th. Johnson Rice reiterated a “buy” rating on shares of Genmab A/S in a research report on Monday, October 27th. HC Wainwright restated a “buy” rating and issued a $39.00 price target on shares of Genmab A/S in a research report on Wednesday, January 28th. Finally, Wall Street Zen downgraded Genmab A/S from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $41.00.

Genmab A/S Trading Up 1.5%

Shares of NASDAQ:GMAB opened at $30.03 on Monday. The stock has a market capitalization of $19.29 billion, a P/E ratio of 12.78, a P/E/G ratio of 17.63 and a beta of 0.90. Genmab A/S has a 1-year low of $17.24 and a 1-year high of $35.43. The business has a 50-day moving average price of $32.35 and a two-hundred day moving average price of $29.76.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. lifted its holdings in shares of Genmab A/S by 2.7% during the 3rd quarter. Alliancebernstein L.P. now owns 10,953,913 shares of the company’s stock valued at $335,957,000 after purchasing an additional 291,538 shares in the last quarter. Orbis Allan Gray Ltd lifted its stake in Genmab A/S by 38.7% in the second quarter. Orbis Allan Gray Ltd now owns 7,920,400 shares of the company’s stock valued at $163,635,000 after buying an additional 2,209,659 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Genmab A/S by 36.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,978,058 shares of the company’s stock valued at $153,324,000 after buying an additional 1,334,919 shares during the period. Paradigm Biocapital Advisors LP acquired a new position in shares of Genmab A/S in the third quarter valued at approximately $117,063,000. Finally, Renaissance Technologies LLC increased its position in shares of Genmab A/S by 23.8% during 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 in the last quarter. 7.07% of the stock is 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.