Genmab A/S (NASDAQ:GMAB) Coverage Initiated at Wolfe Research

Stock analysts at Wolfe Research assumed coverage on shares of Genmab A/S (NASDAQ:GMAB) in a note issued to investors on Friday,Benzinga reports. The brokerage set an “outperform” rating and a $32.00 price target on the stock. Wolfe Research’s price target would suggest a potential upside of 22.94% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. HC Wainwright increased their price target on Genmab A/S from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Jefferies Financial Group began coverage on shares of Genmab A/S in a research note on Tuesday, February 17th. They set a “buy” rating and a $41.50 target price on the stock. Guggenheim reduced their target price 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. Wells Fargo & Company initiated coverage on shares of Genmab A/S in a research note on Monday, March 2nd. They issued an “overweight” rating and a $40.00 price target for the company. Finally, Wall Street Zen cut shares of Genmab A/S from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average 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 quick ratio of 2.01, a current ratio of 2.02 and a debt-to-equity ratio of 0.86. Genmab A/S has a 52-week low of $17.24 and a 52-week high of $35.43. The firm has a market cap of $16.72 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 1.07 and a beta of 0.94. The company’s 50 day moving average is $29.53 and its two-hundred day moving average is $30.46.

Genmab A/S (NASDAQ:GMAB) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.41). The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Genmab A/S had a return on equity of 17.35% and a net margin of 25.89%. On average, research analysts expect that Genmab A/S will post 1.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GMAB. Federated Hermes Inc. purchased a new position in Genmab A/S in the third quarter valued at approximately $12,972,000. Oppenheimer Asset Management Inc. raised its holdings in Genmab A/S by 24.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 315,862 shares of the company’s stock worth $9,687,000 after purchasing an additional 61,311 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Genmab A/S by 17.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 933,309 shares of the company’s stock worth $19,282,000 after buying an additional 135,814 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of Genmab A/S by 636.3% during the 2nd quarter. Squarepoint Ops LLC now owns 94,233 shares of the company’s stock worth $1,947,000 after buying an additional 81,434 shares during the last quarter. Finally, Eagle Global Advisors LLC boosted its holdings in shares of Genmab A/S by 16.3% in the 3rd quarter. Eagle Global Advisors LLC now owns 244,470 shares of the company’s stock valued at $7,498,000 after buying an additional 34,175 shares in the last quarter. Hedge funds and other institutional investors own 7.07% of the company’s stock.

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.