Genmab A/S (NASDAQ:GMAB) Given New $50.00 Price Target at HC Wainwright

Key Points

• HC Wainwright raised Genmab’s price target from $40 to $50 and maintained a “buy” rating, implying 32.28% upside from the prior close.
• Analyst sentiment is broadly positive: Genmab has a consensus “Moderate Buy” rating and an average price target of $41.94, with recent upgrades from TD Cowen and a higher target from Guggenheim.
• Genmab beat quarterly expectations, reporting $0.54 EPS versus $0.37 expected and revenue of $1.16 billion versus $1.12 billion anticipated; institutional investors currently own 7.07% of the stock.

Genmab A/S (NASDAQ:GMAB - Get Free Report) had its price objective increased by stock analysts at HC Wainwright from $40.00 to $50.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target would indicate a potential upside of 32.28% from the company's previous close.

Other analysts have also recently issued reports about the stock. New Street Research set a $43.00 target price on shares of Genmab A/S in a research report on Wednesday, July 22nd. TD Cowen raised Genmab A/S from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $32.00 to $43.00 in a research note on Wednesday, July 22nd. Guggenheim upped their price objective on Genmab A/S from $45.00 to $54.00 and gave the company a "buy" rating in a research report on Monday. Finally, Weiss Ratings upgraded 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 assigned a Hold rating to the company. According to data from MarketBeat, Genmab A/S presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.94.

Genmab A/S Trading Down 1.8%

GMAB stock opened at $37.80 on Wednesday. The firm has a fifty day moving average price of $33.13 and a 200 day moving average price of $29.15. Genmab A/S has a fifty-two week low of $23.62 and a fifty-two week high of $40.17. The firm has a market cap of $23.59 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 2.09 and a beta of 0.81. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.44 and a current ratio of 2.46.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.12 billion. Sell-side analysts anticipate that Genmab A/S will post 1.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

Hedge funds and other institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new stake in shares of Genmab A/S during the second quarter worth $31,000. V Square Quantitative Management LLC purchased a new position in Genmab A/S in the 1st quarter worth about $34,000. MidFirst Bank bought a new stake in Genmab A/S during the 4th quarter valued at about $56,000. Nykredit A S purchased a new stake in Genmab A/S in the 2nd quarter valued at about $58,000. Finally, GAMMA Investing LLC boosted its position in Genmab A/S by 16.4% in the 2nd quarter. GAMMA Investing LLC now owns 3,978 shares of the company's stock valued at $109,000 after buying an additional 561 shares during the period. 7.07% of the stock is currently owned by hedge funds and other institutional investors.

Genmab A/S Company Profile

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.

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