HC Wainwright Issues Pessimistic Forecast for Genmab A/S (NASDAQ:GMAB) Stock Price

Genmab A/S (NASDAQ:GMAB) had its price target cut by HC Wainwright from $41.00 to $39.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 18.36% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. Truist Financial restated a “buy” rating and issued a $48.00 price objective (down previously from $49.00) on shares of Genmab A/S in a research report on Thursday, November 6th. Johnson Rice reissued a “buy” rating on shares of Genmab A/S in a research note on Monday, October 27th. Guggenheim raised Genmab A/S from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a report on Tuesday, September 23rd. Zacks Research downgraded Genmab A/S from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genmab A/S in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.25.

Genmab A/S Trading Up 5.2%

NASDAQ:GMAB opened at $32.95 on Tuesday. Genmab A/S has a 12-month low of $17.24 and a 12-month high of $35.43. The stock’s 50 day simple moving average is $32.04 and its 200-day simple moving average is $28.51. The firm has a market cap of $21.17 billion, a P/E ratio of 14.02, a PEG ratio of 17.79 and a beta of 0.90.

Genmab A/S (NASDAQ:GMAB) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.17. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $975.40 million. Genmab A/S had a net margin of 41.36% and a return on equity of 23.98%. Research analysts forecast that Genmab A/S will post 1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. increased its position in Genmab A/S by 2.7% during the third quarter. Alliancebernstein L.P. now owns 10,953,913 shares of the company’s stock worth $335,957,000 after buying an additional 291,538 shares in the last quarter. Orbis Allan Gray Ltd boosted its stake in shares of Genmab A/S by 38.7% during the second quarter. Orbis Allan Gray Ltd now owns 7,920,400 shares of the company’s stock valued at $163,635,000 after acquiring an additional 2,209,659 shares during the last quarter. Paradigm Biocapital Advisors LP purchased a new stake in Genmab A/S during the 3rd quarter worth about $117,063,000. Arrowstreet Capital Limited Partnership raised its stake in Genmab A/S by 5.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,643,139 shares of the company’s stock valued at $111,735,000 after purchasing an additional 188,761 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Genmab A/S by 3.5% in the second quarter. First Trust Advisors LP now owns 1,770,310 shares of the company’s stock valued at $36,575,000 after buying an additional 60,504 shares during the last quarter. Hedge funds and other institutional investors own 7.07% of the company’s stock.

Genmab A/S Company Profile

Genmab A/S is a Denmark-based biotechnology company specializing in the discovery and development of antibody therapeutics for the treatment of cancer. Since its founding in 1999 and with headquarters in Copenhagen, Genmab has built a robust research platform focused on harnessing novel antibody engineering technologies to create next-generation therapies. The company’s work centers on identifying targets in hematologic malignancies and solid tumors, advancing its proprietary molecules from early discovery through clinical development.

Genmab’s portfolio includes products developed in collaboration with leading global pharmaceutical partners.