HC Wainwright Reaffirms “Buy” Rating for Genmab A/S (NASDAQ:GMAB)

HC Wainwright restated their buy rating on shares of Genmab A/S (NASDAQ:GMAB) in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a $50.00 target price on the stock. HC Wainwright also issued estimates for Genmab A/S’s Q2 2024 earnings at $0.30 EPS, Q3 2024 earnings at $0.34 EPS, Q4 2024 earnings at $0.37 EPS and FY2024 earnings at $1.31 EPS.

A number of other equities research analysts have also commented on GMAB. Morgan Stanley reissued an underweight rating on shares of Genmab A/S in a report on Tuesday, March 26th. Royal Bank of Canada raised shares of Genmab A/S from a sector perform rating to an outperform rating in a research note on Monday, July 15th. BTIG Research boosted their price objective on shares of Genmab A/S from $46.00 to $47.00 and gave the stock a buy rating in a research report on Thursday, June 27th. Finally, Truist Financial upped their price objective on Genmab A/S from $50.00 to $53.00 and gave the stock a buy rating in a report on Tuesday, June 4th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Genmab A/S has an average rating of Hold and an average target price of $49.50.

Genmab A/S Price Performance

Shares of GMAB opened at $27.75 on Thursday. The company has a market capitalization of $18.35 billion, a P/E ratio of 23.13, a PEG ratio of 0.99 and a beta of 0.97. Genmab A/S has a one year low of $24.53 and a one year high of $42.72. The business’s 50 day simple moving average is $27.20 and its 200-day simple moving average is $28.52.

Genmab A/S (NASDAQ:GMAB) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $603.30 million for the quarter, compared to analyst estimates of $594.23 million. Genmab A/S had a return on equity of 18.90% and a net margin of 30.74%. On average, sell-side analysts anticipate that Genmab A/S will post 1.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Genmab A/S

Several large investors have recently bought and sold shares of GMAB. Park Place Capital Corp raised its position in shares of Genmab A/S by 12.3% during the 4th quarter. Park Place Capital Corp now owns 4,891 shares of the company’s stock valued at $156,000 after acquiring an additional 535 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Genmab A/S by 137.7% in the first quarter. Russell Investments Group Ltd. now owns 939 shares of the company’s stock valued at $28,000 after purchasing an additional 544 shares during the last quarter. Grandfield & Dodd LLC lifted its stake in Genmab A/S by 2.3% in the fourth quarter. Grandfield & Dodd LLC now owns 25,558 shares of the company’s stock valued at $814,000 after buying an additional 565 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Genmab A/S by 2.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 27,755 shares of the company’s stock worth $830,000 after buying an additional 633 shares during the last quarter. Finally, Pinnacle Bancorp Inc. grew its position in shares of Genmab A/S by 315.8% during the 4th quarter. Pinnacle Bancorp Inc. now owns 840 shares of the company’s stock worth $27,000 after buying an additional 638 shares during the period. 7.07% of the stock is currently owned by institutional investors and hedge funds.

Genmab A/S Company Profile

Genmab A/S develops antibody therapeutics for the treatment of cancer and other diseases primarily in Denmark. The company markets DARZALEX, a human monoclonal antibody for the treatment of patients with multiple myeloma (MM); teprotumumab for the treatment of thyroid eye disease; and Amivantamab for advanced or metastatic gastric or esophageal cancer and NSCLC.