Genmab A/S (NASDAQ:GMAB) Stock Price Expected to Rise, HC Wainwright Analyst Says

Genmab A/S (NASDAQ:GMAB) had its price objective increased by research analysts at HC Wainwright from $50.00 to $70.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright‘s price target points to a potential upside of 22.19% from the stock’s current price.

A number of other analysts have also weighed in on the stock. TD Cowen upped their target price on shares of Genmab A/S from $43.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday. Morgan Stanley set a $42.00 price target on shares of Genmab A/S in a research note on Tuesday, October 20th. Truist Financial boosted their price target on shares of Genmab A/S from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, October 7th. New Street Research set a $43.00 price target on shares of Genmab A/S in a report on Wednesday, July 22nd. Finally, Weiss Ratings raised shares of Genmab A/S from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $46.61.

Genmab A/S Trading Up 28.3%

GMAB opened at $57.29 on Thursday. Genmab A/S has a 12 month low of $23.62 and a 12 month high of $59.97. The stock has a market capitalization of $35.75 billion, a price-to-earnings ratio of 45.11, a PEG ratio of 2.01 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. The business has a fifty day moving average price of $36.20 and a 200 day moving average price of $30.36.

Genmab A/S (NASDAQ:GMAB) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.17. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.12 billion. Genmab A/S had a return on equity of 14.89% and a net margin of 19.08%. Sell-side analysts expect that Genmab A/S will post 1.22 earnings per share for the current fiscal year.

Institutional Trading of Genmab A/S

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its holdings in Genmab A/S by 84.3% in the 1st quarter. First Trust Advisors LP now owns 2,461,342 shares of the company’s stock valued at $66,038,000 after purchasing an additional 1,126,069 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Genmab A/S by 26.4% during the 1st quarter. Renaissance Technologies LLC now owns 4,414,550 shares of the company’s stock worth $118,442,000 after buying an additional 921,700 shares in the last quarter. SummitTX Capital L.P. acquired a new stake in shares of Genmab A/S in the 1st quarter valued at approximately $2,263,000. Legacy Wealth Asset Management LLC lifted its holdings in shares of Genmab A/S by 164.1% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 102,164 shares of the company’s stock valued at $2,806,000 after buying an additional 63,484 shares during the period. Finally, Advisors Preferred LLC acquired a new stake in shares of Genmab A/S in the 1st quarter valued at approximately $1,361,000. Institutional investors and hedge funds own 7.07% of the company’s stock.

More Genmab A/S News

Here are the key news stories impacting Genmab A/S this week:

• Positive Sentiment: Petosemtamab met both primary endpoints. In the Phase 3 LiGeR-HN1 trial, petosemtamab combined with Merck’s pembrolizumab (Keytruda) produced statistically significant improvements in overall survival and objective response rate versus pembrolizumab alone in first-line, PD-L1-positive recurrent or metastatic head and neck squamous cell carcinoma. Genmab Phase 3 LiGeR-HN1 announcement
• Positive Sentiment: Mortality risk was reduced by 50%. The interim analysis showed an overall-survival hazard ratio of 0.50, with the benefit reported regardless of patients’ HPV status. Investors viewed the magnitude of the result as a significant validation of petosemtamab’s potential. Genmab drug cuts death risk 50 percent
• Positive Sentiment: The results strengthen Genmab’s commercial outlook. Analysts characterized the trial as a potential “hat trick” because of the survival and response benefits, raising expectations that petosemtamab could become an important treatment in a large unmet-need cancer market. Genmab stock reaches record high
• Neutral Sentiment: Genmab plans to engage global regulators and submit the complete findings for presentation at a future medical meeting. The topline announcement is encouraging, but investors still must consider regulatory review, final data, commercialization costs and the company’s elevated valuation. GMAB stock reaches all-time high after trial results
• Positive Sentiment: Trading sentiment also improved, with JPMorgan upgrading its rating, TD Cowen projecting further upside and unusually high call-option activity indicating increased bullish positioning. JPMorgan upgrades Genmab

About Genmab A/S

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

Genmab’s marketed and partnered products include DARZALEX (daratumumab) for multiple myeloma, developed with Johnson & Johnson; EPKINLY (epcoritamab) for certain types of B-cell lymphoma, developed with AbbVie; and Tivdak (tisotumab vedotin) for cervical cancer, developed with Seagen.