Genmab A/S (NASDAQ:GMAB) Sets New 52-Week High - Here's What Happened

Key Points

• Genmab shares reached a new 52-week high of $35.66, closing near $35.39 and extending gains above the stock’s 50-day and 200-day moving averages.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $39.50; several firms recently raised targets to $42–$43.
• Genmab exceeded quarterly expectations, reporting $0.54 in EPS versus $0.37 expected and $1.16 billion in revenue versus a $1.12 billion consensus estimate.

Genmab A/S Sponsored ADR (NASDAQ:GMAB - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $35.66 and last traded at $35.3850, with a volume of 234834 shares. The stock had previously closed at $35.22.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. New Street Research set a $43.00 price objective on shares of Genmab A/S in a research note on Wednesday, July 22nd. Guggenheim lifted their price objective on shares of Genmab A/S from $40.00 to $42.00 and gave the company a "buy" rating in a report on Friday, August 7th. Weiss Ratings raised shares of Genmab A/S from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, September 1st. Truist Financial assumed coverage on Genmab A/S in a research note on Wednesday, May 27th. They set a "buy" rating and a $40.00 target price on the stock. Finally, TD Cowen raised shares of Genmab A/S from a "hold" rating to a "buy" rating and boosted their price objective for the company from $32.00 to $43.00 in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $39.50.

Genmab A/S Stock Performance

The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.44 and a current ratio of 2.46. The stock has a market capitalization of $21.89 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.88 and a beta of 0.84. The firm's 50 day moving average is $31.75 and its 200-day moving average is $28.52.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.17. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.12 billion. Genmab A/S had a return on equity of 14.89% and a net margin of 19.08%. Analysts forecast that Genmab A/S Sponsored ADR will post 1.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership increased its stake in Genmab A/S by 36.6% during the 4th 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 in the last quarter. Renaissance Technologies LLC lifted its position in shares of Genmab A/S by 26.4% in the first quarter. Renaissance Technologies LLC now owns 4,414,550 shares of the company's stock valued at $118,442,000 after acquiring an additional 921,700 shares in the last quarter. 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 last quarter. Cibc World Market Inc. boosted its stake in shares of 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 acquiring an additional 87,350 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Genmab A/S by 14.4% during 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. 7.07% of the stock is owned by hedge funds and other institutional investors.

About Genmab A/S

Genmab A/S is a biotechnology company headquartered in Copenhagen, Denmark, focused on discovering, developing and commercializing differentiated antibody-based medicines. The company's research platforms include technologies designed to create human antibodies and bispecific antibodies that engage the immune system to target cancer and other serious diseases.

Genmab's products and partnered medicines include DARZALEX (daratumumab) for multiple myeloma, developed with Johnson & Johnson; Kesimpta (ofatumumab) for multiple sclerosis, developed with Novartis; and Tivdak (tisotumab vedotin) for cervical cancer, developed with Pfizer.

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