Genmab A/S (NASDAQ:GMAB) Stock Price Target Lowered at Morgan Stanley

Key Points

• Morgan Stanley lowered its Genmab price target from $57 to $56 and maintained an “equal weight” rating; the new target implies about 9.7% upside from the current share price.
• Analyst sentiment is broadly positive: MarketBeat reports an average “Buy” rating and a $53.50 average price target, with recent targets ranging from $43 to $80.
• Genmab reported quarterly EPS of $0.56, beating the $0.36 consensus estimate, while revenue of $1.19 billion came in slightly below expectations.

Genmab A/S (NASDAQ:GMAB - Get Free Report) had its target price dropped by investment analysts at Morgan Stanley from $57.00 to $56.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price target points to a potential upside of 9.71% from the company's current price.

Several other analysts also recently commented on GMAB. New Street Research set a $43.00 price target on shares of Genmab A/S in a research report on Wednesday, July 22nd. Truist Financial reissued a "buy" rating and set a $67.00 price objective (up from $45.00) on shares of Genmab A/S in a research report on Thursday, October 29th. TD Cowen lifted their price objective on shares of Genmab A/S from $43.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, October 26th. Guggenheim upped their target price on shares of Genmab A/S from $58.00 to $80.00 and gave the company a "buy" rating in a report on Friday, October 30th. Finally, Weiss Ratings upgraded shares of Genmab A/S from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $53.50.

Genmab A/S Stock Performance

NASDAQ:GMAB traded down $0.70 during mid-day trading on Friday, reaching $51.04. 1,762,876 shares of the stock were exchanged, compared to its average volume of 2,565,287. The company has a 50 day simple moving average of $40.81 and a 200-day simple moving average of $31.52. The stock has a market capitalization of $31.85 billion, a P/E ratio of 43.64, a P/E/G ratio of 2.17 and a beta of 0.73. The company has a quick ratio of 2.43, a current ratio of 2.45 and a debt-to-equity ratio of 0.74. Genmab A/S has a 1 year low of $23.62 and a 1 year high of $59.97.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.20. Genmab A/S had a return on equity of 13.67% and a net margin of 16.97%. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.20 billion. Analysts anticipate that Genmab A/S will post 1.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in Genmab A/S by 26.4% in the 1st quarter. Renaissance Technologies LLC now owns 4,414,550 shares of the company's stock valued at $118,442,000 after buying an additional 921,700 shares during the period. First Trust Advisors LP lifted its stake in shares of Genmab A/S by 17.0% in the 3rd quarter. First Trust Advisors LP now owns 3,225,639 shares of the company's stock worth $115,075,000 after acquiring an additional 469,117 shares during the period. Pictet Asset Management Holding SA boosted its holdings in shares of Genmab A/S by 8.0% in the third quarter. Pictet Asset Management Holding SA now owns 1,150,854 shares of the company's stock valued at $41,044,000 after acquiring an additional 84,927 shares in the last quarter. HighVista Strategies LLC purchased a new stake in shares of Genmab A/S in the third quarter valued at about $8,066,000. Finally, Quantinno Capital Management LP increased its stake in shares of Genmab A/S by 14.4% during the first quarter. Quantinno Capital Management LP now owns 282,498 shares of the company's stock worth $7,579,000 after acquiring an additional 35,588 shares during the period. 7.07% of the stock is owned by institutional investors and hedge funds.

About Genmab A/S

Genmab A/S is a biotechnology company founded in 1999 and headquartered in Copenhagen, Denmark. It discovers and develops antibody-based medicines, with a focus on cancer and other serious diseases. The company develops treatments independently and with pharmaceutical partners. Its collaborations have resulted in medicines including daratumumab (Darzalex), developed with Johnson & Johnson, and epcoritamab (Epkinly), developed with AbbVie. Genmab also advances a pipeline of antibody-based therapies and uses proprietary technologies to design and engineer therapeutic antibodies.

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