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

Key Points

• Genmab reached a new 52-week high, trading as high as $51.86 and last at $51.918, up 25.9% from its prior close, with about 3 million shares changing hands.
• Analyst sentiment is broadly positive: JPMorgan upgraded the stock to “overweight,” Guggenheim raised its target to $54, and the consensus rating is “Moderate Buy,” although the average price target of $44.39 is below the current price.
• Genmab exceeded quarterly expectations, reporting $0.54 in earnings per share versus the $0.37 consensus and $1.16 billion in revenue versus estimates of $1.12 billion. Institutional investors own approximately 7.07% of the company.

Genmab A/S Sponsored ADR (NASDAQ:GMAB - Get Free Report) reached a new 52-week high during trading on Wednesday. The stock traded as high as $51.86 and last traded at $51.9180, with a volume of 3,001,698 shares trading hands. The stock had previously closed at $44.67.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GMAB. Guggenheim upped their price objective on Genmab A/S from $45.00 to $54.00 and gave the stock a "buy" rating in a research report on Monday, October 5th. JPMorgan Chase & Co. raised Genmab A/S from a "neutral" rating to an "overweight" rating in a research note on Monday. Weiss Ratings upgraded Genmab A/S from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, September 1st. New Street Research set a $43.00 price target on Genmab A/S in a report on Wednesday, July 22nd. Finally, Truist Financial raised their target price on shares of Genmab A/S from $40.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Genmab A/S currently has an average rating of "Moderate Buy" and a consensus price target of $44.39.

Genmab A/S Trading Up 25.9%

The company has a market capitalization of $35.11 billion, a PE ratio of 43.98 and a beta of 0.81. The firm has a 50 day simple moving average of $35.71 and a two-hundred day simple moving average of $30.24.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.17. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.12 billion. Research analysts expect that Genmab A/S Sponsored ADR will post 1.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

Several institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its stake in Genmab A/S by 46.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 17,692 shares of the company's stock valued at $629,000 after purchasing an additional 5,615 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Genmab A/S by 2.4% in the third quarter. Park Avenue Securities LLC now owns 11,258 shares of the company's stock valued at $402,000 after purchasing an additional 265 shares during the last quarter. Signaturefd LLC increased its position in shares of Genmab A/S by 8.5% in the third quarter. Signaturefd LLC now owns 17,842 shares of the company's stock valued at $636,000 after buying an additional 1,400 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Genmab A/S by 3.5% in the third quarter. Quadrant Capital Group LLC now owns 23,243 shares of the company's stock valued at $850,000 after buying an additional 786 shares in the last quarter. Finally, Capital Square LLC purchased a new position in shares of Genmab A/S in the third quarter valued at $219,000. Hedge funds and other 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 discovering and developing differentiated antibody-based medicines for the treatment of cancer and other serious diseases. The company uses proprietary antibody technologies, including DuoBody and HexaBody, to create therapies designed to engage the immune system or target specific disease-related proteins.

Genmab's marketed and partnered products include DARZALEX (daratumumab) for multiple myeloma, developed with Johnson & Johnson; EPKINLY (epcoritamab) for certain types of B-cell lymphoma, developed with AbbVie; and Tivdak (tisotumab vedotin) for cervical cancer, developed with Seagen.

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