Truist Financial Issues Positive Forecast for Genmab A/S (NASDAQ:GMAB) Stock Price

Genmab A/S (NASDAQ:GMAB) had its price target raised by equities researchers at Truist Financial from $40.00 to $45.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 20.95% from the company’s previous close.

Other research analysts have also issued research reports about the company. TD Cowen raised Genmab A/S from a “hold” rating to a “buy” rating and boosted their target price for the company from $32.00 to $43.00 in a report on Wednesday, July 22nd. Guggenheim increased their price target on Genmab A/S from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Monday. HC Wainwright boosted their price objective on shares of Genmab A/S from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday. Weiss Ratings upgraded shares of Genmab A/S from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 1st. Finally, New Street Research set a $43.00 target price on shares of Genmab A/S in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Genmab A/S Stock Performance

NASDAQ GMAB traded down $0.59 during trading on Wednesday, reaching $37.20. The company’s stock had a trading volume of 1,836,457 shares, compared to its average volume of 2,119,536. The business’s fifty day moving average price is $33.13 and its 200-day moving average price is $29.15. Genmab A/S has a twelve month low of $23.62 and a twelve month high of $40.17. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.44 and a current ratio of 2.46. The firm has a market cap of $23.22 billion, a price-to-earnings ratio of 29.32, a P/E/G ratio of 2.09 and a beta of 0.81.

Genmab A/S (NASDAQ:GMAB) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.17. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.12 billion. Genmab A/S had a return on equity of 14.89% and a net margin of 19.08%. As a group, analysts anticipate that Genmab A/S will post 1.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Genmab A/S

Large investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new stake in Genmab A/S during the second quarter worth about $31,000. V Square Quantitative Management LLC purchased a new position in Genmab A/S in the first quarter valued at about $34,000. MidFirst Bank acquired a new stake in shares of Genmab A/S during the 4th quarter valued at approximately $56,000. Nykredit A S purchased a new stake in shares of Genmab A/S during the 2nd quarter worth approximately $58,000. Finally, GAMMA Investing LLC boosted its stake in shares of Genmab A/S by 16.4% during the 2nd quarter. GAMMA Investing LLC now owns 3,978 shares of the company’s stock worth $109,000 after acquiring an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 7.07% of the company’s stock.

More Genmab A/S News

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

• Positive Sentiment: Major Phase 3 success for Epkinly: In the EPCORE DLBCL-2 trial, epcoritamab combined with R-CHOP significantly improved progression-free survival in newly diagnosed diffuse large B-cell lymphoma (DLBCL), reducing the risk of disease progression or death by 51% versus R-CHOP alone. Genmab and AbbVie plan to discuss the results with global regulators, supporting the potential for a new frontline indication. AbbVie and Genmab Announce Epcoritamab Results
• Positive Sentiment: Potentially larger commercial opportunity: Commentary indicated that Epkinly’s efficacy may compare favorably with Roche’s Polivy in frontline DLBCL, raising the possibility that sales could exceed Genmab’s existing $3 billion-plus peak-sales guidance. Genmab Epkinly Phase 3 Trial Analysis
• Positive Sentiment: Analyst upgrade: HC Wainwright raised its GMAB price target from $40 to $50 and assigned a “Buy” rating, implying substantial upside based on the trial results and the drug’s growth prospects. HC Wainwright Raises Genmab Price Target
• Positive Sentiment: Additional pipeline data: Genmab reported a 45.9% response rate for rinatabart sesutecan (Rina-S) in an ovarian-cancer trial, providing another potential source of long-term value, although the program remains earlier stage.
• Neutral Sentiment: Shares have already rallied sharply on the clinical updates, and investors may weigh the stock’s higher valuation against the improved growth outlook. Recent earnings-estimate revisions have nonetheless remained favorable.

Genmab A/S Company Profile

Genmab A/S is a biotechnology company headquartered in Copenhagen, Denmark, focused on developing differentiated antibody-based medicines for the treatment of cancer and other serious diseases. The company uses proprietary antibody technologies, including its DuoBody and HexaBody platforms, to create therapies designed to engage the immune system, target disease-related proteins and improve treatment outcomes.

Genmab’s portfolio includes products developed through partnerships as well as internally discovered candidates.