Genmab A/S (NASDAQ:GMAB) Sets New 12-Month High – Here’s Why

Genmab A/S Sponsored ADR (NASDAQ:GMAB)’s share price hit a new 52-week high on Thursday. The stock traded as high as $40.17 and last traded at $39.67, with a volume of 2,043,779 shares trading hands. The stock had previously closed at $39.57.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GMAB. Guggenheim upped their target price on shares of Genmab A/S from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, October 5th. New Street Research set a $43.00 price target on shares of Genmab A/S in a research note on Wednesday, July 22nd. TD Cowen upgraded shares of Genmab A/S from a “hold” rating to a “buy” rating and raised their price target for the stock from $32.00 to $43.00 in a research note on Wednesday, July 22nd. Truist Financial lifted their price objective on Genmab A/S from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, October 7th. Finally, Morgan Stanley set a $42.00 price objective on Genmab A/S in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Genmab A/S presently has a consensus rating of “Moderate Buy” and an average price target of $43.39.

Genmab A/S Stock Up 1.1%

The stock has a market capitalization of $24.96 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 1.81 and a beta of 0.81. The firm has a 50 day simple moving average of $34.84 and a 200-day simple moving average of $30.03. 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 issued its earnings results on Thursday, August 6th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.37 by $0.17. Genmab A/S had a net margin of 19.08% and a return on equity of 14.89%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.12 billion. On average, sell-side analysts forecast that Genmab A/S Sponsored ADR will post 1.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Genmab A/S

Several institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its position in Genmab A/S by 3.5% in the third quarter. Quadrant Capital Group LLC now owns 23,243 shares of the company’s stock valued at $850,000 after buying an additional 786 shares in the last quarter. Capital Square LLC bought a new stake in Genmab A/S during the third quarter worth about $219,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Genmab A/S during the third quarter worth approximately $244,000. Terra Nova Asset Management LLC increased its holdings in shares of Genmab A/S by 6.7% during the third quarter. Terra Nova Asset Management LLC now owns 68,527 shares of the company’s stock worth $2,445,000 after buying an additional 4,288 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Genmab A/S by 20.5% during the third quarter. GAMMA Investing LLC now owns 4,792 shares of the company’s stock worth $171,000 after buying an additional 814 shares in the last quarter. 7.07% of the stock is owned by institutional investors.

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.