Genmab A/S (NASDAQ:GMAB) Sets New 52-Week High Following Analyst Upgrade

Key Points

• Genmab A/S shares reached a new 52-week high of $28.87 following an upgrade by Guggenheim from a neutral to a buy rating, with a new price target set at $43.00.
• Analysts have mixed views on Genmab, with one noting a downgrade to a "hold" rating while others maintain a bullish outlook, leading to an average rating of "Moderate Buy" and consensus price target of $40.00.
• Institutional investors are increasing their stakes in Genmab, with notable boosts from various firms, resulting in approximately 7.07% of the stock being held by institutional investors.

Shares of Genmab A/S Sponsored ADR (NASDAQ:GMAB - Get Free Report) hit a new 52-week high during trading on Tuesday after Guggenheim upgraded the stock from a neutral rating to a buy rating. Guggenheim now has a $43.00 price target on the stock. Genmab A/S traded as high as $28.86 and last traded at $28.87, with a volume of 183484 shares traded. The stock had previously closed at $28.60.

Several other equities analysts have also commented on GMAB. Zacks Research lowered shares of Genmab A/S from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Wall Street Zen raised Genmab A/S from a "hold" rating to a "buy" rating in a research report on Monday, July 28th. HC Wainwright increased their price target on Genmab A/S from $35.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Finally, Truist Financial increased their price objective on Genmab A/S from $45.00 to $46.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $40.00.

Institutional Trading of Genmab A/S

Institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC boosted its holdings in Genmab A/S by 1,525.0% in the first quarter. Headlands Technologies LLC now owns 1,560 shares of the company's stock valued at $31,000 after acquiring an additional 1,464 shares during the last quarter. Osaic Holdings Inc. increased 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 last quarter. CWM LLC increased its holdings in Genmab A/S by 50.5% in the 2nd quarter. CWM LLC now owns 1,797 shares of the company's stock worth $37,000 after purchasing an additional 603 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Genmab A/S by 124.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,931 shares of the company's stock valued at $38,000 after purchasing an additional 1,070 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Genmab A/S by 124.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,114 shares of the company's stock valued at $44,000 after acquiring an additional 1,174 shares during the period. 7.07% of the stock is currently owned by institutional investors and hedge funds.

Genmab A/S Price Performance

The company has a market cap of $18.55 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 1.65 and a beta of 0.93. The stock has a fifty day moving average price of $24.38 and a two-hundred day moving average price of $21.83.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.39 by $0.15. Genmab A/S had a return on equity of 21.03% and a net margin of 37.53%.The business had revenue of $925.00 million during the quarter, compared to analyst estimates of $5.77 billion. Genmab A/S has set its FY 2025 guidance at EPS. Equities analysts predict that Genmab A/S Sponsored ADR will post 1.45 earnings per share for the current fiscal year.

About Genmab A/S

Genmab A/S develops antibody therapeutics for the treatment of cancer and other diseases primarily in Denmark. The company markets DARZALEX, a human monoclonal antibody for the treatment of patients with multiple myeloma (MM); teprotumumab for the treatment of thyroid eye disease; and Amivantamab for advanced or metastatic gastric or esophageal cancer and NSCLC.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.