Genmab A/S (NASDAQ:GMAB) Price Target Raised to $45.00

Genmab A/S (NASDAQ:GMAB) had its price target increased by Truist Financial from $40.00 to $45.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also issued reports on GMAB. HC Wainwright boosted their price target on shares of Genmab A/S from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen raised Genmab A/S from a “hold” rating to a “buy” rating and raised their price objective for the stock from $32.00 to $43.00 in a research note on Wednesday, July 22nd. Guggenheim lifted their target price on Genmab A/S from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Monday. Weiss Ratings raised Genmab A/S from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 1st. Finally, New Street Research set a $43.00 price target on Genmab A/S in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.50.

Genmab A/S Stock Performance

Shares of NASDAQ:GMAB opened at $37.07 on Wednesday. The firm’s 50 day simple moving average is $33.61 and its 200 day simple moving average is $29.36. Genmab A/S has a fifty-two week low of $23.62 and a fifty-two week high of $40.17. The company has a market capitalization of $23.13 billion, a price-to-earnings ratio of 29.19, a P/E/G ratio of 1.67 and a beta of 0.81. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.46 and a quick ratio of 2.44.

Genmab A/S (NASDAQ:GMAB) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.17. Genmab A/S had a net margin of 19.08% and a return on equity of 14.89%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.12 billion. As a group, sell-side analysts forecast that Genmab A/S will post 1.21 earnings per share for the current year.

Institutional Investors Weigh In On Genmab A/S

Large investors have recently made changes to their positions in the stock. WINTON GROUP Ltd increased its holdings in Genmab A/S by 158.9% during the 2nd quarter. WINTON GROUP Ltd now owns 40,900 shares of the company’s stock worth $1,124,000 after purchasing an additional 25,100 shares in the last quarter. SummitTX Capital L.P. bought a new stake in shares of Genmab A/S in the first quarter valued at about $2,263,000. Arrowstreet Capital Limited Partnership lifted 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 purchasing an additional 1,334,919 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in shares of Genmab A/S during the first quarter worth about $1,216,000. Finally, Legacy Wealth Asset Management LLC boosted its position in shares of Genmab A/S by 164.1% during the second quarter. Legacy Wealth Asset Management LLC now owns 102,164 shares of the company’s stock worth $2,806,000 after buying an additional 63,484 shares during the period. Institutional investors own 7.07% of the company’s stock.

About Genmab A/S

Genmab A/S is a biotechnology company headquartered in Copenhagen, Denmark, focused on developing differentiated antibody-based medicines for the treatment of cancer and other serious diseases. The company uses proprietary antibody technologies, including its DuoBody and HexaBody platforms, to create therapies designed to engage the immune system, target disease-related proteins and improve treatment outcomes.

Genmab’s portfolio includes products developed through partnerships as well as internally discovered candidates.