Genmab A/S’s (GMAB) “Buy” Rating Reiterated at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Genmab A/S (NASDAQ:GMAB) in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a $67.00 target price on the stock, up from their prior target price of $45.00.

Several other research firms have also issued reports on GMAB. HC Wainwright lifted their target price on shares of Genmab A/S from $50.00 to $70.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings upgraded Genmab A/S from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 1st. JPMorgan Chase & Co. raised Genmab A/S from a “neutral” rating to an “overweight” rating in a research report on Monday, October 26th. Guggenheim raised their price objective on Genmab A/S from $45.00 to $54.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Finally, TD Cowen lifted their price objective on Genmab A/S from $43.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $53.61.

Genmab A/S Stock Up 1.0%

Shares of Genmab A/S stock opened at $57.06 on Thursday. Genmab A/S has a 1 year low of $23.62 and a 1 year high of $59.97. The firm has a market cap of $35.61 billion, a price-to-earnings ratio of 44.93, a PEG ratio of 2.28 and a beta of 0.81. The company has a 50-day moving average of $37.12 and a 200 day moving average of $30.58. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.46 and a quick ratio of 2.44.

Genmab A/S (NASDAQ:GMAB) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.54 EPS for the quarter, topping the consensus estimate 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. Genmab A/S had a net margin of 19.08% and a return on equity of 14.89%. As a group, sell-side analysts anticipate that Genmab A/S will post 1.22 earnings per share for the current fiscal year.

Institutional Trading of Genmab A/S

A number of institutional investors and hedge funds have recently bought and sold shares of GMAB. Renaissance Technologies LLC raised its holdings in Genmab A/S by 26.4% in the 1st quarter. Renaissance Technologies LLC now owns 4,414,550 shares of the company’s stock worth $118,442,000 after acquiring an additional 921,700 shares during the last quarter. First Trust Advisors LP lifted its position in 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 valued at $66,038,000 after acquiring an additional 1,126,069 shares in the last quarter. Quantinno Capital Management LP lifted its position in Genmab A/S by 14.4% in the 1st quarter. Quantinno Capital Management LP now owns 282,498 shares of the company’s stock valued at $7,579,000 after acquiring an additional 35,588 shares in the last quarter. Royal Bank of Canada boosted its stake in Genmab A/S by 1.8% during the 1st quarter. Royal Bank of Canada now owns 150,135 shares of the company’s stock valued at $4,029,000 after purchasing an additional 2,637 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its stake in Genmab A/S by 164.1% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 102,164 shares of the company’s stock valued at $2,806,000 after purchasing an additional 63,484 shares during the last quarter. 7.07% of the stock is currently owned by institutional investors.

Genmab A/S News Roundup

Here are the key news stories impacting Genmab A/S this week:

• Positive Sentiment: Genmab reported that its cancer drug reduced the risk of death by 50% in a head-and-neck cancer trial and met the study’s primary goals. The results could strengthen the drug’s commercial prospects and support potential changes to treatment standards. Genmab drug cuts death risk 50% in head and neck cancer trial
• Positive Sentiment: Analysts raised their valuation expectations: Guggenheim increased its price target to $80 from $58 and maintained a Buy rating; Morgan Stanley raised its target to $57 from $42 while retaining an Equal Weight rating; and Goldman Sachs initiated or reiterated a Buy recommendation. Guggenheim analyst recommendation Genmab receives a Buy from Goldman Sachs
• Positive Sentiment: Truist reaffirmed its Buy rating and lifted its target to $67 from $45, while HC Wainwright raised its target to $70 from $50. HC Wainwright also maintained a Buy rating, suggesting analysts see additional upside despite the recent rally. HC Wainwright analyst recommendation
• Positive Sentiment: Coverage describing Genmab as potentially undervalued after its trial successes adds to the bullish narrative around the company’s pipeline and long-term growth prospects. Can Genmab still be undervalued after its trial wins?

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.