Wolfe Research Begins Coverage on Genmab A/S (NASDAQ:GMAB)

Key Points

• Wolfe Research initiated coverage of Genmab with an Outperform rating and a $32 price target, implying roughly a 22.9% upside from the current share price.
• The sell‑side consensus is a Moderate Buy with an average target of $39.36, based on 1 Strong Buy, 6 Buy, 3 Hold and 1 Sell from covering analysts.
• Genmab recently missed quarterly EPS ($0.05 reported vs. $0.46 expected) while revenue matched estimates at $1.06B; the stock trades with a market cap of $16.72B and a P/E of 16.79.

Equities research analysts at Wolfe Research started coverage on shares of Genmab A/S (NASDAQ:GMAB - Get Free Report) in a research note issued on Friday,Benzinga reports. The firm set an "outperform" rating and a $32.00 price target on the stock. Wolfe Research's price objective indicates a potential upside of 22.94% from the stock's current price.

Several other brokerages have also weighed in on GMAB. Truist Financial upgraded Genmab A/S to a "strong-buy" rating in a research report on Wednesday. HC Wainwright upped their price target on Genmab A/S from $39.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, February 18th. Jefferies Financial Group began coverage on Genmab A/S in a report on Tuesday, February 17th. They set a "buy" rating and a $41.50 price target for the company. Wall Street Zen downgraded Genmab A/S from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. Finally, Guggenheim reduced their price objective on shares of Genmab A/S from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Genmab A/S currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.36.

Genmab A/S Price Performance

Genmab A/S stock opened at $26.03 on Friday. The company has a current ratio of 2.02, a quick ratio of 2.01 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average price of $29.53 and a 200 day moving average price of $30.46. Genmab A/S has a 12-month low of $17.24 and a 12-month high of $35.43. The stock has a market cap of $16.72 billion, a P/E ratio of 16.79, a PEG ratio of 1.07 and a beta of 0.94.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last posted its earnings results on Tuesday, February 17th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.41). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. Genmab A/S had a net margin of 25.89% and a return on equity of 17.35%. Sell-side analysts anticipate that Genmab A/S will post 1.45 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Paradigm Biocapital Advisors LP purchased a new stake in shares of Genmab A/S in the 3rd quarter valued at $117,063,000. Orbis Allan Gray Ltd lifted its stake in Genmab A/S by 30.2% during the 4th quarter. Orbis Allan Gray Ltd now owns 14,418,462 shares of the company's stock worth $444,089,000 after acquiring an additional 3,340,456 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Genmab A/S by 152.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,454,378 shares of the company's stock valued at $71,367,000 after acquiring an additional 2,084,966 shares during the period. Pictet Asset Management Holding SA purchased a new position in Genmab A/S during the 4th quarter valued at about $33,835,000. Finally, Perpetual Ltd acquired a new position in Genmab A/S in the 4th quarter valued at about $25,478,000. 7.07% of the stock is currently owned by hedge funds and other institutional investors.

Genmab A/S Company Profile

Genmab A/S is a Denmark-based biotechnology company specializing in the discovery and development of antibody therapeutics for the treatment of cancer. Since its founding in 1999 and with headquarters in Copenhagen, Genmab has built a robust research platform focused on harnessing novel antibody engineering technologies to create next-generation therapies. The company's work centers on identifying targets in hematologic malignancies and solid tumors, advancing its proprietary molecules from early discovery through clinical development.

Genmab's portfolio includes products developed in collaboration with leading global pharmaceutical partners.

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