BMO Capital Markets Reiterates Outperform Rating for Genmab A/S (NASDAQ:GMAB)

BMO Capital Markets reiterated their outperform rating on shares of Genmab A/S (NASDAQ:GMAB) in a report published on Friday,Benzinga reports. They currently have a $48.00 price objective on the stock, up from their previous price objective of $46.00.

GMAB has been the subject of a number of other reports. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Genmab A/S in a research report on Tuesday, August 20th. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Genmab A/S in a report on Wednesday, October 16th. Truist Financial cut their price objective on Genmab A/S from $53.00 to $50.00 and set a “buy” rating for the company in a report on Monday, September 9th. Royal Bank of Canada upgraded Genmab A/S from a “sector perform” rating to an “outperform” rating in a research note on Monday, July 15th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $31.00 price target on shares of Genmab A/S in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.20.

Genmab A/S Stock Performance

NASDAQ GMAB opened at $23.20 on Friday. The firm’s 50 day moving average price is $24.39 and its two-hundred day moving average price is $26.38. Genmab A/S has a twelve month low of $21.90 and a twelve month high of $32.89. The stock has a market cap of $15.35 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 0.68 and a beta of 0.99.

Genmab A/S (NASDAQ:GMAB) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). The business had revenue of $816.10 million for the quarter, compared to analysts’ expectations of $838.20 million. Genmab A/S had a net margin of 23.49% and a return on equity of 14.64%. During the same quarter in the prior year, the firm posted $0.47 EPS. On average, research analysts forecast that Genmab A/S will post 1.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

Several institutional investors and hedge funds have recently added to or reduced their stakes in GMAB. Allspring Global Investments Holdings LLC bought a new position in shares of Genmab A/S in the first quarter valued at approximately $43,000. Janney Montgomery Scott LLC boosted its holdings in Genmab A/S by 43.2% during the first quarter. Janney Montgomery Scott LLC now owns 17,369 shares of the company’s stock valued at $520,000 after acquiring an additional 5,238 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of Genmab A/S by 2.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 27,755 shares of the company’s stock worth $830,000 after purchasing an additional 633 shares during the period. SG Americas Securities LLC increased its stake in shares of Genmab A/S by 360.5% in the first quarter. SG Americas Securities LLC now owns 29,500 shares of the company’s stock worth $882,000 after purchasing an additional 23,094 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Genmab A/S by 137.7% during the 1st quarter. Russell Investments Group Ltd. now owns 939 shares of the company’s stock worth $28,000 after purchasing an additional 544 shares during the last quarter. 7.07% of the stock is currently owned by institutional investors and hedge funds.

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.