JPMorgan Chase & Co. Upgrades Genmab A/S (NASDAQ:GMAB) to “Overweight”

Genmab A/S (NASDAQ:GMAB) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Monday, Benzinga reports.

GMAB has been the topic of several other reports. New Street Research set a $43.00 target price on shares of Genmab A/S in a research report on Wednesday, July 22nd. Truist Financial boosted their target price on shares of Genmab A/S from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, October 7th. HC Wainwright upped their price target on shares of Genmab A/S from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, October 7th. Weiss Ratings raised shares of Genmab A/S from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 1st. Finally, TD Cowen upgraded shares of Genmab A/S from a “hold” rating to a “buy” rating and lifted their price target for the stock from $32.00 to $43.00 in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.39.

Genmab A/S Stock Performance

Shares of GMAB stock opened at $43.79 on Monday. The business’s 50-day moving average price is $35.25 and its 200-day moving average price is $30.23. Genmab A/S has a 12 month low of $23.62 and a 12 month high of $44.34. The firm has a market capitalization of $27.33 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.01 and a beta of 0.81. The company has a current ratio of 2.46, a quick ratio of 2.44 and a debt-to-equity ratio 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 for the quarter, topping the consensus estimate of $0.37 by $0.17. Genmab A/S had a return on equity of 14.89% and a net margin of 19.08%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Equities research analysts forecast that Genmab A/S will post 1.22 EPS for the current year.

Institutional Investors Weigh In On Genmab A/S

Institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new position in shares of Genmab A/S in the 2nd quarter worth approximately $31,000. V Square Quantitative Management LLC bought a new position in shares of Genmab A/S during the 1st quarter worth about $34,000. Nykredit A S acquired a new stake in Genmab A/S in the second quarter valued at approximately $58,000. GAMMA Investing LLC grew 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 purchasing an additional 561 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Genmab A/S by 51.6% in the first quarter. EverSource Wealth Advisors LLC now owns 4,597 shares of the company’s stock valued at $123,000 after buying an additional 1,565 shares in the last quarter. Institutional investors and hedge funds own 7.07% of the company’s stock.

About Genmab A/S

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.