Genmab A/S (NASDAQ:GMAB) Stock Price Target Raised at Morgan Stanley

Genmab A/S (NASDAQ:GMAB) had its price target raised by Morgan Stanley from $42.00 to $57.00 in a research note released on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Guggenheim raised their target price on shares of Genmab A/S from $58.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday. TD Cowen increased their target price on shares of Genmab A/S from $43.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, October 26th. JPMorgan Chase & Co. upgraded shares of Genmab A/S from a “neutral” rating to an “overweight” rating in a report on Monday, October 26th. Weiss Ratings raised shares of Genmab A/S from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 1st. Finally, HC Wainwright raised their target price on shares of Genmab A/S from $50.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Genmab A/S presently has an average rating of “Moderate Buy” and an average target price of $53.61.

Genmab A/S Trading Up 1.0%

Shares of Genmab A/S stock opened at $57.06 on Friday. Genmab A/S has a fifty-two week low of $23.62 and a fifty-two week high of $59.97. The business’s fifty day moving average is $37.12 and its two-hundred day moving average is $30.58. The company has a quick ratio of 2.44, a current ratio of 2.46 and a debt-to-equity ratio of 0.81. The firm has a market cap of $35.61 billion, a PE ratio of 44.93, a P/E/G ratio of 2.26 and a beta of 0.81.

Genmab A/S (NASDAQ:GMAB) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.17. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.12 billion. Genmab A/S had a return on equity of 14.89% and a net margin of 19.08%. Analysts anticipate that Genmab A/S will post 1.22 earnings per share for the current year.

Institutional Trading of Genmab A/S

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC lifted its stake in shares of Genmab A/S by 26.4% in the first quarter. Renaissance Technologies LLC now owns 4,414,550 shares of the company’s stock worth $118,442,000 after acquiring an additional 921,700 shares in the last quarter. First Trust Advisors LP increased its holdings in Genmab A/S by 84.3% during the 1st quarter. First Trust Advisors LP now owns 2,461,342 shares of the company’s stock worth $66,038,000 after purchasing an additional 1,126,069 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Genmab A/S by 14.4% in the 1st quarter. Quantinno Capital Management LP now owns 282,498 shares of the company’s stock valued at $7,579,000 after purchasing an additional 35,588 shares in the last quarter. Royal Bank of Canada raised its position in shares of Genmab A/S by 1.8% in the 1st quarter. Royal Bank of Canada now owns 150,135 shares of the company’s stock valued at $4,029,000 after purchasing an additional 2,637 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC raised its position in shares of Genmab A/S by 164.1% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 102,164 shares of the company’s stock valued at $2,806,000 after purchasing an additional 63,484 shares in the last quarter. 7.07% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Genmab A/S

Here are the key news stories impacting Genmab A/S this week:

• Positive Sentiment: Genmab reported that its cancer drug reduced the risk of death by 50% in a head-and-neck cancer trial and met the study’s primary goals. The results could strengthen the drug’s commercial prospects and support potential changes to treatment standards. Genmab drug cuts death risk 50% in head and neck cancer trial
• Positive Sentiment: Analysts raised their valuation expectations: Guggenheim increased its price target to $80 from $58 and maintained a Buy rating; Morgan Stanley raised its target to $57 from $42 while retaining an Equal Weight rating; and Goldman Sachs initiated or reiterated a Buy recommendation. Guggenheim analyst recommendation Genmab receives a Buy from Goldman Sachs
• Positive Sentiment: Truist reaffirmed its Buy rating and lifted its target to $67 from $45, while HC Wainwright raised its target to $70 from $50. HC Wainwright also maintained a Buy rating, suggesting analysts see additional upside despite the recent rally. HC Wainwright analyst recommendation
• Positive Sentiment: Coverage describing Genmab as potentially undervalued after its trial successes adds to the bullish narrative around the company’s pipeline and long-term growth prospects. Can Genmab still be undervalued after its trial wins?

About Genmab A/S

Genmab A/S is a biotechnology company headquartered in Copenhagen, Denmark, focused on discovering and developing differentiated antibody-based medicines for the treatment of cancer and other serious diseases. The company uses proprietary antibody technologies, including DuoBody and HexaBody, to create therapies designed to engage the immune system or target specific disease-related proteins.

Genmab’s marketed and partnered products include DARZALEX (daratumumab) for multiple myeloma, developed with Johnson & Johnson; EPKINLY (epcoritamab) for certain types of B-cell lymphoma, developed with AbbVie; and Tivdak (tisotumab vedotin) for cervical cancer, developed with Seagen.