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

Genmab A/S (NASDAQ:GMAB)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They presently have a $50.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 98.97% from the company’s current price.

GMAB has been the subject of a number of other reports. Morgan Stanley reaffirmed an “underweight” rating on shares of Genmab A/S in a report on Tuesday, March 26th. Truist Financial upped their target price on shares of Genmab A/S from $50.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.50.

Genmab A/S Price Performance

Shares of GMAB opened at $25.13 on Thursday. Genmab A/S has a 1-year low of $24.94 and a 1-year high of $42.72. The stock has a market cap of $16.62 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 0.93 and a beta of 0.99. The firm has a fifty day moving average price of $27.96 and a 200 day moving average price of $29.11.

Genmab A/S (NASDAQ:GMAB) last announced its earnings results on Thursday, May 2nd. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Genmab A/S had a net margin of 30.74% and a return on equity of 18.90%. The business had revenue of $603.30 million during the quarter, compared to analysts’ expectations of $594.23 million. As a group, equities analysts expect that Genmab A/S will post 1.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Wealth LLC increased its stake in shares of Genmab A/S by 50.7% during the fourth quarter. NewEdge Wealth LLC now owns 119,989 shares of the company’s stock worth $3,820,000 after acquiring an additional 40,382 shares during the period. Harding Loevner LP grew its position in Genmab A/S by 2.7% during the fourth quarter. Harding Loevner LP now owns 3,289,895 shares of the company’s stock worth $97,569,000 after buying an additional 85,665 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Genmab A/S by 350.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,845 shares of the company’s stock worth $154,000 after buying an additional 3,770 shares during the period. Northern Trust Corp grew its position in Genmab A/S by 83.3% during the third quarter. Northern Trust Corp now owns 559,044 shares of the company’s stock worth $19,717,000 after buying an additional 254,042 shares during the period. Finally, Natixis Advisors L.P. grew its position in Genmab A/S by 38.9% during the third quarter. Natixis Advisors L.P. now owns 228,897 shares of the company’s stock worth $8,073,000 after buying an additional 64,085 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.