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

Genmab A/S (NASDAQ:GMAB)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $38.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 48.38% from the company’s previous close.

Several other research firms have also recently weighed in on GMAB. Wolfe Research initiated coverage on Genmab A/S in a report on Friday, March 27th. They set an “outperform” rating and a $32.00 price target on the stock. Weiss Ratings downgraded shares of Genmab A/S from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. The Goldman Sachs Group raised shares of Genmab A/S from a “neutral” rating to a “buy” rating in a report on Wednesday, April 22nd. BNP Paribas Exane upgraded shares of Genmab A/S from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 22nd. Finally, Truist Financial started coverage on shares of Genmab A/S in a research note on Wednesday, May 27th. They set a “buy” rating and a $40.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Genmab A/S currently has an average rating of “Moderate Buy” and a consensus price target of $37.93.

Genmab A/S Trading Up 1.3%

Shares of GMAB stock opened at $25.61 on Tuesday. Genmab A/S has a twelve month low of $20.23 and a twelve month high of $35.43. The stock’s fifty day simple moving average is $26.44 and its 200 day simple moving average is $28.95. The company has a quick ratio of 2.17, a current ratio of 2.18 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $15.97 billion, a P/E ratio of 19.40, a P/E/G ratio of 1.50 and a beta of 0.85.

Institutional Investors Weigh In On Genmab A/S

Hedge funds have recently added to or reduced their stakes in the business. Orbis Allan Gray Ltd lifted its position in shares of Genmab A/S by 30.2% during the 4th quarter. Orbis Allan Gray Ltd now owns 14,418,462 shares of the company’s stock valued at $444,089,000 after acquiring an additional 3,340,456 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Genmab A/S by 2.7% during the third quarter. Alliancebernstein L.P. now owns 10,953,913 shares of the company’s stock valued at $335,957,000 after purchasing an additional 291,538 shares during the period. Paradigm Biocapital Advisors LP boosted its position in shares of Genmab A/S by 84.4% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,039,834 shares of the company’s stock worth $216,827,000 after purchasing an additional 3,222,983 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Genmab A/S by 36.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,978,058 shares of the company’s stock worth $153,324,000 after purchasing an additional 1,334,919 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Genmab A/S by 26.4% in the 1st quarter. Renaissance Technologies LLC now owns 4,414,550 shares of the company’s stock valued at $118,442,000 after buying an additional 921,700 shares during the period. 7.07% of the stock is currently owned by institutional investors.

About Genmab A/S

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.