Genmab A/S (NASDAQ:GMAB) Stock Rating Reaffirmed by Morgan Stanley

Genmab A/S (NASDAQ:GMAB)‘s stock had its “equal weight” rating reaffirmed by stock analysts at Morgan Stanley in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $31.00 price objective on the stock. Morgan Stanley’s price target would suggest a potential upside of 17.03% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Genmab A/S in a research note on Tuesday, August 27th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Genmab A/S in a research report on Tuesday, August 20th. Royal Bank of Canada raised shares of Genmab A/S from a “sector perform” rating to an “outperform” rating in a research report on Monday, July 15th. BTIG Research boosted their target price 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 decreased their target price on shares of Genmab A/S from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Monday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.20.

Genmab A/S Trading Down 1.6 %

GMAB opened at $26.49 on Wednesday. Genmab A/S has a 1-year low of $24.53 and a 1-year high of $38.80. The company has a market cap of $17.52 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 0.87 and a beta of 0.99. The company has a fifty day moving average price of $27.22 and a two-hundred day moving average price of $28.09.

Genmab A/S (NASDAQ:GMAB) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.07). Genmab A/S had a net margin of 29.06% and a return on equity of 17.48%. The company had revenue of $779.50 million during the quarter, compared to the consensus estimate of $734.60 million. On average, research analysts forecast that Genmab A/S will post 1.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

Institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new position in Genmab A/S in the second quarter valued at about $1,354,000. Point72 Asset Management L.P. purchased a new position in Genmab A/S in the second quarter valued at about $457,000. Cubist Systematic Strategies LLC boosted its stake in Genmab A/S by 109.7% in the second quarter. Cubist Systematic Strategies LLC now owns 278,541 shares of the company’s stock valued at $7,000,000 after acquiring an additional 145,689 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Genmab A/S by 7.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 7,227 shares of the company’s stock valued at $182,000 after acquiring an additional 478 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Genmab A/S by 7.6% in the second quarter. Renaissance Technologies LLC now owns 1,462,459 shares of the company’s stock valued at $36,752,000 after acquiring an additional 103,859 shares during the last quarter. 7.07% of the stock is owned by institutional investors.

About Genmab A/S

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.