HC Wainwright Forecasts Strong Price Appreciation for Genmab A/S (NASDAQ:GMAB) Stock

Key Points

• HC Wainwright has increased its price target for Genmab A/S from $35.00 to $36.00, indicating a potential upside of 56.66% from the current stock price.
• Analysts have a consensus rating of "Moderate Buy" for Genmab A/S, with an average target price of $37.60, while one analyst has rated it a sell.
• The company reported a $0.54 EPS, surpassing analysts' expectations of $0.39, with a net margin of 37.53% for the latest quarter.

Genmab A/S (NASDAQ:GMAB - Get Free Report) had its price target upped by equities research analysts at HC Wainwright from $35.00 to $36.00 in a report released on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price target would suggest a potential upside of 56.66% from the company's current price.

A number of other equities analysts also recently issued reports on the company. Wall Street Zen upgraded Genmab A/S from a "hold" rating to a "buy" rating in a research note on Monday, July 28th. Truist Financial increased their price target on shares of Genmab A/S from $45.00 to $46.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.60.

Genmab A/S Stock Performance

Shares of NASDAQ GMAB opened at $22.98 on Friday. The company has a market cap of $14.74 billion, a PE ratio of 11.55, a P/E/G ratio of 6.66 and a beta of 0.95. The firm's 50 day moving average price is $21.78 and its 200-day moving average price is $20.89. Genmab A/S has a 52-week low of $17.24 and a 52-week high of $27.94.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates 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. On average, analysts forecast that Genmab A/S will post 1.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Orbis Allan Gray Ltd boosted its stake in shares of Genmab A/S by 102.8% in the first quarter. Orbis Allan Gray Ltd now owns 5,710,741 shares of the company's stock worth $111,816,000 after acquiring an additional 2,895,179 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Genmab A/S by 152.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,454,378 shares of the company's stock valued at $71,367,000 after buying an additional 2,084,966 shares during the last quarter. Deep Track Capital LP purchased a new position in shares of Genmab A/S in the fourth quarter worth $41,740,000. Two Sigma Advisers LP grew its stake in Genmab A/S by 168.8% during the fourth quarter. Two Sigma Advisers LP now owns 1,653,500 shares of the company's stock valued at $34,509,000 after acquiring an additional 1,038,400 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in Genmab A/S by 122.2% in the 4th quarter. Two Sigma Investments LP now owns 1,706,364 shares of the company's stock worth $35,612,000 after purchasing an additional 938,455 shares in the last quarter. Institutional investors own 7.07% of the company's stock.

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.

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.