Genmab A/S (NASDAQ:GMAB) Shares Gap Up - Time to Buy?

Genmab A/S (NASDAQ:GMAB - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $20.95, but opened at $21.79. Genmab A/S shares last traded at $21.62, with a volume of 352,168 shares.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GMAB. HC Wainwright reissued a "buy" rating and issued a $37.00 price objective (down from $50.00) on shares of Genmab A/S in a report on Wednesday, April 9th. BNP Paribas raised Genmab A/S from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 11th. William Blair raised shares of Genmab A/S from a "market perform" rating to an "outperform" rating in a report on Tuesday, March 11th. Leerink Partnrs upgraded shares of Genmab A/S from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Finally, Truist Financial dropped their price target on shares of Genmab A/S from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.17.

Genmab A/S Trading Up 1.8%

The company's 50-day moving average price is $20.06 and its two-hundred day moving average price is $20.66. The company has a market cap of $14.24 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 2.65 and a beta of 0.96.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.08. Genmab A/S had a net margin of 36.30% and a return on equity of 16.78%. The firm had revenue of $715.00 million for the quarter, compared to analyst estimates of $5.17 billion. Equities analysts forecast that Genmab A/S will post 1.45 earnings per share for the current year.

Institutional Investors Weigh In On Genmab A/S

Hedge funds have recently modified their holdings of the stock. Orbis Allan Gray Ltd lifted its stake in Genmab A/S by 102.8% during the first quarter. Orbis Allan Gray Ltd now owns 5,710,741 shares of the company's stock valued at $111,816,000 after buying an additional 2,895,179 shares in the last quarter. Deep Track Capital LP purchased a new stake in shares of Genmab A/S in the 4th quarter valued at approximately $41,740,000. Brandywine Global Investment Management LLC acquired a new position in Genmab A/S in the 4th quarter worth approximately $33,804,000. Two Sigma Advisers LP raised its stake in Genmab A/S by 168.8% during the 4th quarter. Two Sigma Advisers LP now owns 1,653,500 shares of the company's stock valued at $34,509,000 after purchasing an additional 1,038,400 shares during the period. Finally, Two Sigma Investments LP boosted its position in shares of Genmab A/S by 122.2% in the fourth quarter. Two Sigma Investments LP now owns 1,706,364 shares of the company's stock worth $35,612,000 after buying an additional 938,455 shares during the period. 7.07% of the stock is owned by hedge funds and other institutional investors.

Genmab A/S Company Profile

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.