Genmab A/S (NASDAQ:GMAB) Stock Price Up 7.4% - What's Next?

Key Points

• Genmab shares jumped 7.4% to $42.95 in Friday trading, with volume below the stock’s average session volume.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $43.39. HC Wainwright and Guggenheim recently raised their targets to $50 and $54, respectively, and issued buy ratings.
• Genmab exceeded quarterly expectations, reporting $0.54 in earnings per share versus the $0.37 consensus estimate and $1.16 billion in revenue versus expectations of $1.12 billion; institutional investors own 7.07% of the stock.

Shares of Genmab A/S Sponsored ADR (NASDAQ:GMAB - Get Free Report) were up 7.4% on Friday. The stock traded as high as $40.29 and last traded at $42.9540. 1,785,023 shares were traded during trading, a decline of 19% from the average session volume of 2,207,187 shares. The stock had previously closed at $40.00.

Wall Street Analyst Weigh In

GMAB has been the topic of several research analyst reports. Weiss Ratings raised Genmab A/S from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, September 1st. HC Wainwright raised their target price on Genmab A/S from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, October 7th. New Street Research set a $43.00 target price on Genmab A/S in a report on Wednesday, July 22nd. Morgan Stanley set a $42.00 price objective on Genmab A/S in a report on Tuesday. Finally, Guggenheim lifted their price target on shares of Genmab A/S from $45.00 to $54.00 and gave the stock a "buy" rating in a research report on Monday, October 5th. 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $43.39.

Genmab A/S Stock Performance

The stock has a 50 day simple moving average of $35.01 and a two-hundred day simple moving average of $30.12. The stock has a market capitalization of $26.67 billion, a P/E ratio of 33.62, a P/E/G ratio of 1.80 and a beta of 0.81. 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 released its quarterly earnings results on Thursday, August 6th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.17. Genmab A/S had a return on equity of 14.89% and a net margin of 19.08%. The business had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.12 billion. On average, equities analysts forecast that Genmab A/S Sponsored ADR will post 1.23 EPS for the current fiscal year.

Institutional Trading of Genmab A/S

Several large investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its position in shares of Genmab A/S by 26.4% during the 1st 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. First Trust Advisors LP lifted its position in shares of Genmab A/S by 84.3% in the 1st quarter. First Trust Advisors LP now owns 2,461,342 shares of the company's stock worth $66,038,000 after purchasing an additional 1,126,069 shares during the period. 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 buying an additional 35,588 shares during the period. Royal Bank of Canada raised its stake in Genmab A/S by 1.8% during the first quarter. Royal Bank of Canada now owns 150,135 shares of the company's stock worth $4,029,000 after buying an additional 2,637 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its holdings in Genmab A/S by 164.1% in the second quarter. Legacy Wealth Asset Management LLC now owns 102,164 shares of the company's stock valued at $2,806,000 after buying an additional 63,484 shares during the period. 7.07% of the stock is owned by institutional investors and hedge funds.

Genmab A/S Company Profile

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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