TD Cowen Forecasts Strong Price Appreciation for Genmab A/S (NASDAQ:GMAB) Stock

Key Points

• TD Cowen raised Genmab’s price target from $43 to $52 and maintained a “buy” rating, implying 17.75% upside from the reported $44.16 share price.
• Analyst sentiment is broadly positive: Genmab has a consensus “Moderate Buy” rating and an average price target of $44.39, with Guggenheim, HC Wainwright, and Truist Financial also recently increasing their targets.
• Genmab reported quarterly earnings of $0.54 per share, exceeding the $0.37 consensus estimate, while revenue of $1.16 billion also surpassed expectations; shares were up 0.8% in Monday trading.

Genmab A/S (NASDAQ:GMAB - Get Free Report) had its target price lifted by research analysts at TD Cowen from $43.00 to $52.00 in a report released on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's price target indicates a potential upside of 17.75% from the company's current price.

GMAB has been the topic of a number of other research reports. Truist Financial increased 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. HC Wainwright upped their target price on shares of Genmab A/S from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, October 7th. New Street Research set a $43.00 target price on Genmab A/S in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Genmab A/S from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, September 1st. Finally, Guggenheim lifted their price target on Genmab A/S from $45.00 to $54.00 and gave the stock a "buy" rating in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $44.39.

Genmab A/S Stock Up 0.8%

Shares of NASDAQ GMAB traded up $0.37 during trading on Monday, hitting $44.16. The stock had a trading volume of 4,137,111 shares, compared to its average volume of 2,271,859. Genmab A/S has a 12 month low of $23.62 and a 12 month high of $45.45. The company has a market capitalization of $27.56 billion, a PE ratio of 34.77, a PEG ratio of 2.01 and a beta of 0.81. The firm has a fifty day moving average of $35.25 and a two-hundred day moving average of $30.23. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.46 and a quick ratio of 2.44.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last posted its quarterly earnings data 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. Genmab A/S had a return on equity of 14.89% and a net margin of 19.08%. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.12 billion. As a group, equities research analysts forecast that Genmab A/S will post 1.22 EPS for the current fiscal year.

Institutional Trading of Genmab A/S

A number of institutional investors have recently modified their holdings of the company. Signaturefd LLC lifted its stake in Genmab A/S by 8.5% in the third quarter. Signaturefd LLC now owns 17,842 shares of the company's stock worth $636,000 after acquiring an additional 1,400 shares during the period. Quadrant Capital Group LLC lifted its position in Genmab A/S by 3.5% in the 3rd quarter. Quadrant Capital Group LLC now owns 23,243 shares of the company's stock valued at $850,000 after acquiring an additional 786 shares in the last quarter. Capital Square LLC purchased a new stake in shares of Genmab A/S during the third quarter valued at $219,000. Frank Rimerman Advisors LLC bought a new position in Genmab A/S during the third quarter valued at approximately $244,000. Finally, Terra Nova Asset Management LLC lifted its holdings in Genmab A/S by 6.7% in the third quarter. Terra Nova Asset Management LLC now owns 68,527 shares of the company's stock valued at $2,445,000 after acquiring an additional 4,288 shares during the period. 7.07% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Genmab A/S

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

• Positive Sentiment: Strong head-and-neck cancer results: Genmab reported updated Phase 2 data for petosemtamab plus pembrolizumab in first-line recurrent or metastatic PD-L1-positive head and neck cancer. The combination produced median overall survival of 28.2 months, a 63% overall response rate, median progression-free survival of 9.0 months and a 19% complete-response rate. A Phase 3 program is ongoing, with topline results expected later this year. Genmab Phase 2 head and neck cancer data
• Positive Sentiment: Additional oncology catalyst: A report said Genmab’s experimental therapy reduced the risk of death and disease progression for ovarian-cancer patients in a late-stage clinical trial, adding to optimism around the company’s clinical pipeline. Genmab shares after positive cancer study results
• Positive Sentiment: Colorectal-cancer data reinforce pipeline potential: Updated Phase 2 results for petosemtamab combined with chemotherapy showed objective response rates of 75% in first-line and 67% in second-line metastatic colorectal cancer, supporting ongoing global Phase 3 trials. Genmab colorectal cancer data
• Positive Sentiment: Analyst upgrade: JPMorgan raised Genmab from “neutral” to “overweight,” potentially improving investor confidence in the stock.
• Positive Sentiment: Bullish options activity: Traders purchased 12,591 call options, about 403% above typical call volume, indicating elevated speculative interest in further gains.

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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