Genmab A/S (NASDAQ:GMAB) Raised to "Buy" at TD Cowen

Key Points

• TD Cowen upgraded Genmab A/S to “buy” from “hold” and set a $43 price target, implying about 51.6% upside from the prior close.
• The upgrade adds to a broadly positive analyst backdrop: Genmab now has a consensus Moderate Buy rating, with an average price target of $38.81.
• The stock rose 1.6% to $28.36, while the company’s market cap is about $17.68 billion and its shares have traded between $21.00 and $35.43 over the past 52 weeks.

Genmab A/S (NASDAQ:GMAB - Get Free Report) was upgraded by equities researchers at TD Cowen from a "hold" rating to a "buy" rating in a research note issued on Wednesday. The firm currently has a $43.00 price objective on the stock. TD Cowen's target price would indicate a potential upside of 51.62% from the company's previous close.

GMAB has been the topic of a number of other reports. The Goldman Sachs Group raised Genmab A/S from a "neutral" rating to a "buy" rating in a research report on Wednesday, April 22nd. Truist Financial initiated coverage on shares of Genmab A/S in a research note on Wednesday, May 27th. They issued a "buy" rating and a $40.00 price objective on the stock. Wolfe Research started coverage on Genmab A/S in a research note on Friday, March 27th. They set an "outperform" rating and a $32.00 price target for the company. HC Wainwright lifted their price objective on shares of Genmab A/S from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Finally, BNP Paribas Exane upgraded Genmab A/S from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.81.

Genmab A/S Stock Up 1.6%

GMAB stock opened at $28.36 on Wednesday. Genmab A/S has a 52 week low of $21.00 and a 52 week high of $35.43. The company has a market capitalization of $17.68 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 1.77 and a beta of 0.84. The firm's 50-day moving average is $26.68 and its two-hundred day moving average is $28.35. The company has a current ratio of 2.18, a quick ratio of 2.17 and a debt-to-equity ratio of 0.87.

Hedge Funds Weigh In On Genmab A/S

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC boosted its stake in Genmab A/S by 291.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 827 shares of the company's stock worth $25,000 after purchasing an additional 616 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Genmab A/S by 37.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,603 shares of the company's stock valued at $33,000 after purchasing an additional 440 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Genmab A/S in the 1st quarter worth $34,000. NewEdge Advisors LLC raised its holdings in Genmab A/S by 1,229.0% in the third quarter. NewEdge Advisors LLC now owns 1,236 shares of the company's stock worth $38,000 after purchasing an additional 1,143 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Genmab A/S by 143.4% during the third quarter. Brown Brothers Harriman & Co. now owns 1,324 shares of the company's stock worth $41,000 after purchasing an additional 780 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 Denmark-based biotechnology company specializing in the discovery and development of antibody therapeutics for the treatment of cancer. Since its founding in 1999 and with headquarters in Copenhagen, Genmab has built a robust research platform focused on harnessing novel antibody engineering technologies to create next-generation therapies. The company's work centers on identifying targets in hematologic malignancies and solid tumors, advancing its proprietary molecules from early discovery through clinical development.

Genmab's portfolio includes products developed in collaboration with leading global pharmaceutical partners.

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