Guggenheim Forecasts Strong Price Appreciation for Genmab A/S (NASDAQ:GMAB) Stock

Genmab A/S (NASDAQ:GMAB) had its price objective raised by analysts at Guggenheim from $40.00 to $42.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target points to a potential upside of 35.11% from the company’s previous close.

Several other brokerages also recently issued reports on GMAB. TD Cowen upgraded Genmab A/S from a “hold” rating to a “buy” rating and increased their price target for the stock from $32.00 to $43.00 in a report on Wednesday, July 22nd. BNP Paribas Exane upgraded Genmab A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 22nd. Weiss Ratings upgraded Genmab A/S from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 28th. HC Wainwright raised their target price on shares of Genmab A/S from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, Truist Financial began coverage on shares of Genmab A/S in a report on Wednesday, May 27th. They set a “buy” rating and a $40.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.50.

Genmab A/S Trading Up 4.2%

Shares of NASDAQ GMAB traded up $1.25 during midday trading on Friday, reaching $31.09. 2,249,121 shares of the stock were exchanged, compared to its average volume of 1,848,895. The business has a 50-day simple moving average of $27.22 and a two-hundred day simple moving average of $27.99. The company has a market capitalization of $19.38 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 1.84 and a beta of 0.83. Genmab A/S has a 12 month low of $21.00 and a 12 month high of $35.43. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.18 and a quick ratio of 2.17.

Genmab A/S (NASDAQ:GMAB) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.17. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Genmab A/S had a net margin of 21.05% and a return on equity of 15.34%. As a group, equities research analysts expect that Genmab A/S will post 1.1 EPS for the current year.

Institutional Trading of Genmab A/S

Institutional investors have recently modified their holdings of the company. Legacy Wealth Asset Management LLC grew its holdings in shares of Genmab A/S by 164.1% during the second quarter. Legacy Wealth Asset Management LLC now owns 102,164 shares of the company’s stock worth $2,806,000 after buying an additional 63,484 shares in the last quarter. GAMMA Investing LLC raised its position in Genmab A/S by 16.4% in the 2nd quarter. GAMMA Investing LLC now owns 3,978 shares of the company’s stock valued at $109,000 after buying an additional 561 shares during the last quarter. Summitry LLC lifted its stake in Genmab A/S by 5.3% in the 1st quarter. Summitry LLC now owns 11,170 shares of the company’s stock valued at $300,000 after acquiring an additional 567 shares in the last quarter. BankChampaign National Association bought a new stake in Genmab A/S in the 1st quarter valued at approximately $687,000. Finally, Strategic Investment Advisors MI acquired a new position in Genmab A/S during the 1st quarter worth approximately $137,000. 7.07% of the stock is currently owned by institutional investors.

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.