Genmab A/S (NASDAQ:GMAB) Upgraded at JPMorgan Chase & Co.

Key Points

• JPMorgan upgraded Genmab from “neutral” to “overweight,” while other analysts have also issued positive revisions. The stock carries a “Moderate Buy” consensus rating with an average price target of $43.39.
• Genmab reported quarterly earnings of $0.54 per share, beating the $0.37 consensus estimate, while revenue of $1.16 billion exceeded expectations of $1.12 billion.
• GMAB opened at $43.79, near its 52-week high of $44.34, with a market capitalization of $27.33 billion. Institutional investors and hedge funds own approximately 7.07% of the company.

Genmab A/S (NASDAQ:GMAB - Get Free Report) was upgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Monday, Benzinga reports.

Several other equities research analysts have also recently weighed in on the company. Truist Financial upped their target price on Genmab A/S from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, October 7th. Weiss Ratings raised Genmab A/S from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, September 1st. Morgan Stanley set a $42.00 price target on Genmab A/S in a research note on Tuesday, October 20th. TD Cowen raised Genmab A/S from a "hold" rating to a "buy" rating and boosted their price target for the stock from $32.00 to $43.00 in a report on Wednesday, July 22nd. Finally, New Street Research set a $43.00 price target on Genmab A/S in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.39.

Genmab A/S Price Performance

GMAB stock opened at $43.79 on Monday. The business has a 50-day simple moving average of $35.25 and a 200 day simple moving average of $30.23. The company has a market cap of $27.33 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 2.01 and a beta of 0.81. 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 has a 52 week low of $23.62 and a 52 week high of $44.34.

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

Hedge Funds Weigh In On Genmab A/S

A number of institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd boosted its position in Genmab A/S by 158.9% in the second quarter. WINTON GROUP Ltd now owns 40,900 shares of the company's stock valued at $1,124,000 after buying an additional 25,100 shares in the last quarter. SummitTX Capital L.P. bought a new stake in shares of Genmab A/S during the first quarter worth $2,263,000. Diversify Wealth Management LLC bought a new stake in shares of Genmab A/S during the first quarter worth $1,216,000. Legacy Wealth Asset Management LLC grew its stake 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 last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Genmab A/S by 84.3% during the first quarter. First Trust Advisors LP now owns 2,461,342 shares of the company's stock worth $66,038,000 after buying an additional 1,126,069 shares in the last quarter. 7.07% of the stock is currently owned by institutional investors and hedge funds.

Genmab A/S Company Profile

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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