Genmab A/S (NASDAQ:GMAB) Upgraded to Outperform by Royal Bank of Canada

Royal Bank of Canada upgraded shares of Genmab A/S (NASDAQ:GMAB) from a sector perform rating to an outperform rating in a research report sent to investors on Monday morning, Marketbeat.com reports.

Other analysts also recently issued research reports about the stock. Truist Financial increased their target price on shares of Genmab A/S from $50.00 to $53.00 and gave the stock a buy rating in a research report on Tuesday, June 4th. Morgan Stanley reaffirmed an underweight rating on shares of Genmab A/S in a research report on Tuesday, March 26th. BTIG Research increased their price objective on shares of Genmab A/S from $46.00 to $47.00 and gave the company a buy rating in a research report on Thursday, June 27th. Finally, HC Wainwright reaffirmed a buy rating and issued a $50.00 price objective on shares of Genmab A/S in a research report on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $49.50.

Genmab A/S Stock Performance

GMAB opened at $26.83 on Monday. The firm has a 50 day moving average price of $27.25 and a 200 day moving average price of $28.60. The company has a market cap of $17.74 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 0.97 and a beta of 0.97. Genmab A/S has a 1 year low of $24.53 and a 1 year high of $42.72.

Genmab A/S (NASDAQ:GMAB) last posted its earnings results on Thursday, May 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $603.30 million during the quarter, compared to the consensus estimate of $594.23 million. Genmab A/S had a net margin of 30.74% and a return on equity of 18.90%. On average, sell-side analysts predict that Genmab A/S will post 1.11 earnings per share for the current year.

Hedge Funds Weigh In On Genmab A/S

Institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Wealth LLC boosted its stake in shares of Genmab A/S by 50.7% during the 4th quarter. NewEdge Wealth LLC now owns 119,989 shares of the company’s stock valued at $3,820,000 after buying an additional 40,382 shares during the last quarter. Harding Loevner LP boosted its stake in shares of Genmab A/S by 2.7% during the 4th quarter. Harding Loevner LP now owns 3,289,895 shares of the company’s stock valued at $97,569,000 after buying an additional 85,665 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Genmab A/S by 350.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,845 shares of the company’s stock valued at $154,000 after buying an additional 3,770 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Genmab A/S during the 4th quarter valued at approximately $1,143,000. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Genmab A/S by 32.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 27,122 shares of the company’s stock valued at $864,000 after buying an additional 6,681 shares during the last quarter. 7.07% of the stock is currently owned by hedge funds and other institutional investors.

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.