Truist Financial Reaffirms Buy Rating for Genmab A/S (NASDAQ:GMAB)

Genmab A/S (NASDAQ:GMAB)‘s stock had its “buy” rating reissued by research analysts at Truist Financial in a report released on Thursday, Benzinga reports. They presently have a $67.00 price target on the stock, up from their prior price target of $45.00. Truist Financial‘s price objective would suggest a potential upside of 16.73% from the company’s current price.

Several other equities research analysts have also issued reports on GMAB. Guggenheim raised their target price on shares of Genmab A/S from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, October 5th. HC Wainwright boosted their target price on Genmab A/S from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday. TD Cowen upped their target price on Genmab A/S from $43.00 to $52.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. upgraded Genmab A/S from a “neutral” rating to an “overweight” rating in a report on Monday. Finally, Morgan Stanley set a $42.00 price target on Genmab A/S in a research note on Tuesday, October 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.06.

Genmab A/S Price Performance

Shares of GMAB stock traded up $0.10 during trading hours on Thursday, hitting $57.40. The stock had a trading volume of 3,078,609 shares, compared to its average volume of 2,431,813. The stock’s 50-day moving average price is $36.20 and its two-hundred day moving average price is $30.36. Genmab A/S has a one year low of $23.62 and a one year high of $59.97. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.46 and a quick ratio of 2.44. The stock has a market capitalization of $35.82 billion, a price-to-earnings ratio of 45.10, a PEG ratio of 2.01 and a beta of 0.81.

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

Hedge Funds Weigh In On Genmab A/S

Large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in Genmab A/S during the 3rd quarter worth $177,000. Vise Technologies Inc. raised its stake in Genmab A/S by 41.6% in the third quarter. Vise Technologies Inc. now owns 23,186 shares of the company’s stock valued at $827,000 after buying an additional 6,809 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Genmab A/S by 46.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 17,692 shares of the company’s stock valued at $629,000 after buying an additional 5,615 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in Genmab A/S by 2.4% in the third quarter. Park Avenue Securities LLC now owns 11,258 shares of the company’s stock worth $402,000 after acquiring an additional 265 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in Genmab A/S by 8.5% in the third quarter. Signaturefd LLC now owns 17,842 shares of the company’s stock worth $636,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors own 7.07% of the company’s stock.

Key Stories Impacting Genmab A/S

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

• Positive Sentiment: Major Phase 3 success: Genmab reported that the LiGeR-HN1 trial met both primary endpoints. Petosemtamab combined with Merck’s pembrolizumab (Keytruda) reduced the risk of death by 50% versus pembrolizumab alone in first-line, PD-L1-positive recurrent or metastatic head and neck cancer, while also improving objective response rates. Genmab Phase 3 trial announcement
• Positive Sentiment: Potentially practice-changing results: Coverage characterized the results as a significant advance, with analysts highlighting the combination’s statistically significant and clinically meaningful survival benefit. The data could support regulatory submissions and establish petosemtamab as a new treatment option if confirmed in the full dataset and accepted by regulators. Barron’s petosemtamab coverage
• Positive Sentiment: Higher analyst valuation: HC Wainwright raised its Genmab price target from $50 to $70 and upgraded the stock to “buy,” implying approximately 23% upside from the reference price. JPMorgan also upgraded its rating, while TD Cowen said the shares could continue to rise.
• Positive Sentiment: Strong investor positioning: Reports of unusually high call-option activity indicate increased speculative and bullish interest following the trial announcement. Genmab call-option activity
• Neutral Sentiment: Risks remain: Petosemtamab is investigational, and Genmab still needs to discuss the results with regulators and submit the complete data for presentation and potential filings. The stock’s rapid move toward its 52-week high may also increase volatility and profit-taking risk.

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.