Genmab A/S (NASDAQ:GMAB) Stock Price Target Raised at HC Wainwright

Key Points

• HC Wainwright raised Genmab’s price target from $50 to $70 and maintained a “Buy” rating, implying 22.19% potential upside from the cited current price.
• Genmab shares were up 28.3%, opening at $57.29 and near their 52-week high of $59.97. The company also exceeded quarterly expectations, reporting $0.54 in EPS versus a $0.37 consensus and $1.16 billion in revenue.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and $46.61 price target, while positive Phase 3 petosemtamab results strengthened expectations for Genmab’s commercial outlook.

Genmab A/S (NASDAQ:GMAB - Get Free Report) had its price target boosted by research analysts at HC Wainwright from $50.00 to $70.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price objective would suggest a potential upside of 22.19% from the company's current price.

Several other research firms have also recently issued reports on GMAB. New Street Research set a $43.00 price objective on shares of Genmab A/S in a research report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Genmab A/S from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, September 1st. Guggenheim boosted their target price on shares of Genmab A/S from $45.00 to $54.00 and gave the company a "buy" rating in a report on Monday, October 5th. Truist Financial increased their price target on shares of Genmab A/S from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, October 7th. Finally, TD Cowen increased their price objective on Genmab A/S from $43.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Genmab A/S has a consensus rating of "Moderate Buy" and a consensus price target of $46.61.

Genmab A/S Stock Up 28.3%

Shares of NASDAQ:GMAB opened at $57.29 on Thursday. Genmab A/S has a 52-week low of $23.62 and a 52-week high of $59.97. The stock has a market cap of $35.75 billion, a P/E ratio of 45.11, a PEG ratio of 2.01 and a beta of 0.81. The business has a fifty day moving average of $36.20 and a two-hundred day moving average of $30.36. The company has a quick ratio of 2.44, a current ratio of 2.46 and a debt-to-equity ratio of 0.81.

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

Institutional Trading of Genmab A/S

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Genmab A/S in the third quarter valued at approximately $177,000. Vise Technologies Inc. increased its stake in Genmab A/S by 41.6% during the 3rd quarter. Vise Technologies Inc. now owns 23,186 shares of the company's stock worth $827,000 after buying an additional 6,809 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Genmab A/S by 46.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 17,692 shares of the company's stock worth $629,000 after buying an additional 5,615 shares during the period. Park Avenue Securities LLC lifted its holdings in Genmab A/S by 2.4% during the 3rd quarter. Park Avenue Securities LLC now owns 11,258 shares of the company's stock worth $402,000 after buying an additional 265 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in Genmab A/S by 8.5% during the 3rd quarter. Signaturefd LLC now owns 17,842 shares of the company's stock worth $636,000 after buying an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 7.07% of the company's stock.

Key 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.

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