Raymond James & Associates Raises Stake in Genmab A/S (NASDAQ:GMAB)

Raymond James & Associates increased its stake in Genmab A/S (NASDAQ:GMAB) by 2.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 169,747 shares of the company’s stock after buying an additional 3,598 shares during the quarter. Raymond James & Associates’ holdings in Genmab A/S were worth $4,138,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GMAB. Allspring Global Investments Holdings LLC purchased a new position in shares of Genmab A/S in the 1st quarter worth about $43,000. Janney Montgomery Scott LLC boosted its holdings in shares of Genmab A/S by 43.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,369 shares of the company’s stock worth $520,000 after buying an additional 5,238 shares during the last quarter. Capstone Investment Advisors LLC purchased a new position in shares of Genmab A/S in the 1st quarter worth about $655,000. Grandfield & Dodd LLC boosted its holdings in shares of Genmab A/S by 3.4% in the 1st quarter. Grandfield & Dodd LLC now owns 26,418 shares of the company’s stock worth $790,000 after buying an additional 860 shares during the last quarter. Finally, Gallacher Capital Management LLC boosted its holdings in shares of Genmab A/S by 17.9% in the 1st quarter. Gallacher Capital Management LLC now owns 7,865 shares of the company’s stock worth $235,000 after buying an additional 1,192 shares during the last quarter. 7.07% of the stock is owned by hedge funds and other institutional investors.

Genmab A/S Trading Up 1.1 %

GMAB stock opened at $22.56 on Friday. The company’s 50 day moving average is $24.88 and its 200 day moving average is $26.60. The stock has a market cap of $14.93 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 0.66 and a beta of 0.99. Genmab A/S has a 1-year low of $22.22 and a 1-year high of $32.89.

Genmab A/S (NASDAQ:GMAB) last posted its quarterly earnings data 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). The company had revenue of $779.50 million during the quarter, compared to the consensus estimate of $734.60 million. Genmab A/S had a return on equity of 17.48% and a net margin of 29.06%. As a group, sell-side analysts forecast that Genmab A/S will post 1.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Royal Bank of Canada raised shares of Genmab A/S from a “sector perform” rating to an “outperform” rating in a report on Monday, July 15th. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Genmab A/S in a report on Wednesday, October 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Genmab A/S in a report on Tuesday, August 20th. Redburn Atlantic assumed coverage on shares of Genmab A/S in a report on Tuesday, October 8th. They set a “buy” rating on the stock. Finally, Truist Financial dropped their price objective on shares of Genmab A/S from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.20.

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.