Genmab A/S (NASDAQ:GMAB) Hits New 52-Week High - What's Next?

Key Points

• Genmab reached a new 52-week high, trading as high as $36.07 and recently closing at $35.64. The stock’s consensus rating is “Moderate Buy,” with an average analyst price target of $40.83.
• Analysts have recently raised their outlook, including TD Cowen’s upgrade to “Buy” with a $43 target and Guggenheim’s increased target of $54.
• Genmab exceeded quarterly expectations, reporting EPS of $0.54 versus the $0.37 consensus and revenue of $1.16 billion versus estimates of $1.12 billion. Institutional investors own 7.07% of the company, with several major funds increasing their stakes.

Genmab A/S Sponsored ADR (NASDAQ:GMAB - Get Free Report) reached a new 52-week high on Monday. The company traded as high as $36.07 and last traded at $35.6350, with a volume of 2153207 shares. The stock had previously closed at $34.75.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. TD Cowen upgraded shares of Genmab A/S from a "hold" rating to a "buy" rating and lifted their price target for the company from $32.00 to $43.00 in a research report on Wednesday, July 22nd. Weiss Ratings raised Genmab A/S from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, September 1st. HC Wainwright restated a "buy" rating and issued a $40.00 price objective on shares of Genmab A/S in a report on Monday, September 14th. New Street Research set a $43.00 target price on shares of Genmab A/S in a research note on Wednesday, July 22nd. Finally, Guggenheim lifted their target price on Genmab A/S from $45.00 to $54.00 and gave the company a "buy" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $40.83.

Genmab A/S Price Performance

The firm has a market capitalization of $22.37 billion, a price-to-earnings ratio of 28.22, a P/E/G ratio of 1.89 and a beta of 0.81. The company has a fifty day moving average price of $32.76 and a two-hundred day moving average price of $28.98. The company has a quick ratio of 2.44, a current ratio of 2.46 and a debt-to-equity ratio of 0.81.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.17. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.12 billion. Genmab A/S had a net margin of 19.08% and a return on equity of 14.89%. On average, equities research analysts expect that Genmab A/S Sponsored ADR will post 1.21 EPS for the current fiscal year.

Institutional Trading of Genmab A/S

Several hedge funds have recently added to or reduced their stakes in GMAB. Arrowstreet Capital Limited Partnership boosted its holdings in Genmab A/S by 36.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,978,058 shares of the company's stock valued at $153,324,000 after acquiring an additional 1,334,919 shares during the last quarter. Renaissance Technologies LLC boosted its position 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 valued at $118,442,000 after buying an additional 921,700 shares during the period. First Trust Advisors LP boosted its stake in shares of Genmab A/S by 84.3% in the first quarter. First Trust Advisors LP now owns 2,461,342 shares of the company's stock worth $66,038,000 after acquiring an additional 1,126,069 shares during the period. Cibc World Market Inc. grew its stake in Genmab A/S by 31.2% in the fourth quarter. Cibc World Market Inc. now owns 367,282 shares of the company's stock worth $11,312,000 after purchasing an additional 87,350 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in Genmab A/S by 14.4% in the first quarter. Quantinno Capital Management LP now owns 282,498 shares of the company's stock worth $7,579,000 after purchasing an additional 35,588 shares in the last quarter. Institutional investors own 7.07% of the company's stock.

About Genmab A/S

Genmab A/S is a biotechnology company headquartered in Copenhagen, Denmark, focused on developing differentiated antibody-based medicines for the treatment of cancer and other serious diseases. The company uses proprietary antibody technologies, including its DuoBody and HexaBody platforms, to create therapies designed to engage the immune system, target disease-related proteins and improve treatment outcomes.

Genmab's portfolio includes products developed through partnerships as well as internally discovered candidates.

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