Genmab A/S (NASDAQ:GMAB) Stock Price Expected to Rise, Truist Financial Analyst Says

Genmab A/S (NASDAQ:GMAB) had its price target lifted by stock analysts at Truist Financial from $40.00 to $45.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 20.95% from the stock’s current price.

A number of other equities research analysts have also weighed in on GMAB. TD Cowen upgraded shares of Genmab A/S from a “hold” rating to a “buy” rating and raised their price objective for the company from $32.00 to $43.00 in a report on Wednesday, July 22nd. Guggenheim raised their price target on Genmab A/S from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings raised Genmab A/S from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, September 1st. New Street Research set a $43.00 price objective on Genmab A/S in a research report on Wednesday, July 22nd. Finally, HC Wainwright increased their price objective on Genmab A/S from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday. One investment 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Genmab A/S Stock Down 1.6%

NASDAQ GMAB traded down $0.59 during trading hours on Wednesday, hitting $37.20. 1,836,457 shares of the company were exchanged, compared to its average volume of 2,119,536. The company has a quick ratio of 2.44, a current ratio of 2.46 and a debt-to-equity ratio of 0.81. The firm has a market cap of $23.22 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 2.09 and a beta of 0.81. The company has a 50 day moving average of $33.13 and a two-hundred day moving average of $29.15. Genmab A/S has a 52-week low of $23.62 and a 52-week high of $40.17.

Genmab A/S (NASDAQ:GMAB) last issued its earnings results on Thursday, August 6th. The company reported $0.54 earnings per share 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 firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Equities research analysts anticipate that Genmab A/S will post 1.21 earnings per share for the current year.

Hedge Funds Weigh In On Genmab A/S

Several large investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of Genmab A/S during the second quarter worth about $31,000. V Square Quantitative Management LLC acquired a new stake in shares of Genmab A/S in the 1st quarter valued at about $34,000. MidFirst Bank purchased a new position in Genmab A/S during the 4th quarter worth approximately $56,000. Nykredit A S purchased a new position in Genmab A/S during the 2nd quarter worth approximately $58,000. Finally, GAMMA Investing LLC increased its position in Genmab A/S by 16.4% during the second quarter. GAMMA Investing LLC now owns 3,978 shares of the company’s stock worth $109,000 after buying an additional 561 shares during the period. Institutional investors and hedge funds own 7.07% of the company’s stock.

Key Headlines Impacting Genmab A/S

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.