Truist Financial Issues Positive Forecast for Genmab A/S (NASDAQ:GMAB) Stock Price

Genmab A/S (NASDAQ:GMAB - Get Free Report) had its price objective upped by equities research analysts at Truist Financial from $45.00 to $46.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's target price suggests a potential upside of 114.95% from the stock's current price.

GMAB has been the subject of several other research reports. Sanford C. Bernstein cut shares of Genmab A/S from a "market perform" rating to an "underperform" rating in a report on Tuesday, April 1st. Wall Street Zen downgraded shares of Genmab A/S from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. HC Wainwright restated a "buy" rating and issued a $37.00 price objective (down previously from $50.00) on shares of Genmab A/S in a report on Wednesday, April 9th. Finally, William Blair upgraded Genmab A/S from a "market perform" rating to an "outperform" rating in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Genmab A/S presently has a consensus rating of "Moderate Buy" and an average target price of $37.80.

Genmab A/S Price Performance

Shares of GMAB traded down $0.46 during midday trading on Tuesday, hitting $21.40. The stock had a trading volume of 1,247,549 shares, compared to its average volume of 1,250,780. The firm has a market cap of $13.73 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 6.65 and a beta of 0.94. The company has a 50 day simple moving average of $21.04 and a two-hundred day simple moving average of $20.75. Genmab A/S has a twelve month low of $17.24 and a twelve month high of $28.56.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.08. Genmab A/S had a return on equity of 18.08% and a net margin of 35.11%. The business had revenue of $715.00 million for the quarter, compared to analyst estimates of $5.17 billion. Analysts forecast that Genmab A/S will post 1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Genmab A/S in the 2nd quarter valued at about $257,000. Gallacher Capital Management LLC lifted its position in shares of Genmab A/S by 20.9% in the second quarter. Gallacher Capital Management LLC now owns 17,348 shares of the company's stock valued at $358,000 after buying an additional 3,002 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Genmab A/S by 377.5% during the 2nd quarter. Parallel Advisors LLC now owns 3,720 shares of the company's stock worth $77,000 after acquiring an additional 2,941 shares during the period. Rhumbline Advisers increased its holdings in shares of Genmab A/S by 3.2% during the 1st quarter. Rhumbline Advisers now owns 16,956 shares of the company's stock worth $332,000 after acquiring an additional 532 shares during the last quarter. Finally, Foresight Group Ltd Liability Partnership bought a new stake in Genmab A/S in the 1st quarter valued at $954,000. 7.07% of the stock is owned by 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.