Guggenheim Boosts Genmab A/S (NASDAQ:GMAB) Price Target to $42.00

Key Points

• Guggenheim raised Genmab’s price target from $40 to $42 and maintained a “buy” rating, implying approximately 35% upside from the reported $31.09 share price.
• Analyst sentiment remains positive, with Genmab carrying a “Moderate Buy” consensus rating and an average price target of $39.50; recent upgrades and target increases came from Goldman Sachs and HC Wainwright.
• Genmab exceeded quarterly expectations, reporting $0.54 in earnings per share versus a $0.37 estimate and $1.16 billion in revenue versus a $1.12 billion forecast. Several institutional investors also increased their holdings, though institutional ownership stood at 7.07%.

Genmab A/S (NASDAQ:GMAB - Get Free Report) had its price target upped by equities researchers at Guggenheim from $40.00 to $42.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Guggenheim's price target suggests a potential upside of 35.11% from the company's current price.

A number of other research analysts have also commented on GMAB. The Goldman Sachs Group upgraded Genmab A/S from a "neutral" rating to a "buy" rating in a research report on Wednesday, April 22nd. HC Wainwright boosted their target price on Genmab A/S from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. New Street Research set a $43.00 price target on Genmab A/S in a report on Wednesday, July 22nd. Truist Financial assumed coverage on Genmab A/S in a research report on Wednesday, May 27th. They issued a "buy" rating and a $40.00 price objective for the company. Finally, Weiss Ratings raised Genmab A/S from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $39.50.

Genmab A/S Price Performance

Shares of GMAB stock traded up $1.25 during trading hours on Friday, reaching $31.09. 2,249,121 shares of the company were exchanged, compared to its average volume of 1,848,895. Genmab A/S has a fifty-two week low of $21.00 and a fifty-two week high of $35.43. The stock's fifty day moving average is $27.22 and its two-hundred day moving average is $27.99. The company has a market cap of $19.38 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 1.84 and a beta of 0.83. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.18 and a quick ratio of 2.17.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.37 by $0.17. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.12 billion. Genmab A/S had a net margin of 21.05% and a return on equity of 15.34%. Sell-side analysts forecast that Genmab A/S will post 1.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GMAB. Orbis Allan Gray Ltd grew its stake in shares of Genmab A/S by 30.2% during the fourth quarter. Orbis Allan Gray Ltd now owns 14,418,462 shares of the company's stock worth $444,089,000 after purchasing an additional 3,340,456 shares during the period. Paradigm Biocapital Advisors LP lifted its stake in Genmab A/S by 84.4% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 7,039,834 shares of the company's stock valued at $216,827,000 after buying an additional 3,222,983 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Genmab A/S by 36.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,978,058 shares of the company's stock worth $153,324,000 after buying an additional 1,334,919 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Genmab A/S by 26.4% during the first quarter. Renaissance Technologies LLC now owns 4,414,550 shares of the company's stock worth $118,442,000 after buying an additional 921,700 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Genmab A/S by 84.3% during the 1st quarter. First Trust Advisors LP now owns 2,461,342 shares of the company's stock worth $66,038,000 after buying an additional 1,126,069 shares during the period. Institutional investors and hedge funds own 7.07% of the company's stock.

About Genmab A/S

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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