Genmab A/S (NASDAQ:GMAB) Upgraded to Strong-Buy at Zacks Research

Key Points

• Genmab A/S has been upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating, indicating increased confidence from analysts.
• The stock currently holds an average rating of "Moderate Buy" with a price target of $40.80, following various upgrades from analysts at firms like Guggenheim and Truist Financial.
• In recent trading, Genmab's shares opened at $33.56 and have displayed significant market activity, including increased institutional investments in the second quarter.

Genmab A/S (NASDAQ:GMAB - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Thursday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Genmab A/S in a report on Saturday, September 27th. Guggenheim raised shares of Genmab A/S from a "neutral" rating to a "buy" rating and set a $43.00 price objective for the company in a report on Tuesday, September 23rd. HC Wainwright boosted their price objective on shares of Genmab A/S from $36.00 to $40.00 and gave the company a "buy" rating in a report on Thursday. Wall Street Zen raised shares of Genmab A/S from a "buy" rating to a "strong-buy" rating in a report on Friday, September 26th. Finally, Truist Financial boosted their price objective on shares of Genmab A/S from $45.00 to $46.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Genmab A/S presently has an average rating of "Moderate Buy" and an average price target of $40.80.

Genmab A/S Price Performance

Shares of GMAB opened at $33.56 on Thursday. The firm has a 50-day moving average of $25.84 and a 200-day moving average of $22.43. Genmab A/S has a one year low of $17.24 and a one year high of $33.61. The company has a market cap of $21.53 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.82 and a beta of 0.98.

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

Hedge Funds Weigh In On Genmab A/S

A number of institutional investors have recently added to or reduced their stakes in the stock. Orbis Allan Gray Ltd increased its position in Genmab A/S by 38.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 7,920,400 shares of the company's stock worth $163,635,000 after purchasing an additional 2,209,659 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Genmab A/S by 152.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,454,378 shares of the company's stock worth $71,367,000 after purchasing an additional 2,084,966 shares in the last quarter. First Trust Advisors LP increased its position in Genmab A/S by 3.5% during the 2nd quarter. First Trust Advisors LP now owns 1,770,310 shares of the company's stock worth $36,575,000 after purchasing an additional 60,504 shares in the last quarter. Brandywine Global Investment Management LLC increased its position in Genmab A/S by 1.6% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 1,744,769 shares of the company's stock worth $36,047,000 after purchasing an additional 27,372 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in Genmab A/S by 112.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 1,258,143 shares of the company's stock worth $24,634,000 after purchasing an additional 665,893 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 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.

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