Genmab A/S (NASDAQ:GMAB) Sets New 52-Week High – Here’s What Happened

Genmab A/S Sponsored ADR (NASDAQ:GMAB) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $33.99 and last traded at $33.85, with a volume of 593650 shares. The stock had previously closed at $33.10.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GMAB shares. Truist Financial reaffirmed a “buy” rating and set a $48.00 price target (down previously from $49.00) on shares of Genmab A/S in a research report on Thursday, November 6th. Guggenheim raised shares of Genmab A/S from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Tuesday, September 23rd. HC Wainwright increased their target price on Genmab A/S from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Genmab A/S in a research report on Wednesday, October 8th. Finally, Johnson Rice restated a “buy” rating on shares of Genmab A/S in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.75.

Genmab A/S Price Performance

The company has a market cap of $21.60 billion, a PE ratio of 14.31, a P/E/G ratio of 2.15 and a beta of 0.90. The company has a 50-day moving average price of $31.29 and a two-hundred day moving average price of $27.66.

Genmab A/S (NASDAQ:GMAB) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate 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 return on equity of 23.98% and a net margin of 41.36%. On average, equities research analysts anticipate that Genmab A/S Sponsored ADR will post 1.45 earnings per share for the current year.

Institutional Investors Weigh In On Genmab A/S

A number of large investors have recently added to or reduced their stakes in GMAB. Osaic Holdings Inc. increased its stake in Genmab A/S by 37.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,603 shares of the company’s stock worth $33,000 after buying an additional 440 shares during the period. CWM LLC grew its stake in shares of Genmab A/S by 50.5% during the second quarter. CWM LLC now owns 1,797 shares of the company’s stock valued at $37,000 after acquiring an additional 603 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Genmab A/S by 1,229.0% during the third quarter. NewEdge Advisors LLC now owns 1,236 shares of the company’s stock worth $38,000 after acquiring an additional 1,143 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Genmab A/S by 143.4% in the third quarter. Brown Brothers Harriman & Co. now owns 1,324 shares of the company’s stock worth $41,000 after acquiring an additional 780 shares in the last quarter. Finally, AlphaCore Capital LLC purchased a new position in Genmab A/S in the second quarter valued at about $44,000. 7.07% of the stock is owned by institutional investors and hedge funds.

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.