Genmab A/S (NASDAQ:GMAB) Sees Strong Trading Volume – Still a Buy?

Shares of Genmab A/S Sponsored ADR (NASDAQ:GMAB) saw strong trading volume on Thursday . Approximately 1,599,957 shares changed hands during trading, a decline of 16% from the previous session’s volume of 1,915,176 shares.The stock last traded at $33.3840 and had previously closed at $34.11.

Analysts Set New Price Targets

Several analysts have weighed in on GMAB shares. New Street Research set a $43.00 price objective on shares of Genmab A/S in a research note on Wednesday, July 22nd. HC Wainwright lifted their target price on shares of Genmab A/S from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Truist Financial started coverage on Genmab A/S in a report on Wednesday, May 27th. They issued a “buy” rating and a $40.00 target price on the stock. Weiss Ratings upgraded Genmab A/S from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, TD Cowen raised Genmab A/S from a “hold” rating to a “buy” rating and raised their price target for the company from $32.00 to $43.00 in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.50.

Genmab A/S Trading Up 0.1%

The company’s 50-day moving average is $28.82 and its 200-day moving average is $27.96. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.44 and a current ratio of 2.46. The firm has a market cap of $20.86 billion, a price-to-earnings ratio of 26.34, a P/E/G ratio of 1.98 and a beta of 0.83.

Genmab A/S (NASDAQ:GMAB) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.17. Genmab A/S had a net margin of 19.08% and a return on equity of 14.89%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.12 billion. On average, research analysts predict that Genmab A/S Sponsored ADR will post 1.17 earnings per share for the current year.

Institutional Trading of Genmab A/S

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its position in Genmab A/S by 124.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,114 shares of the company’s stock valued at $44,000 after buying an additional 1,174 shares during the last quarter. Sei Investments Co. raised its position in shares of Genmab A/S by 4.2% during the second quarter. Sei Investments Co. now owns 62,111 shares of the company’s stock worth $1,283,000 after acquiring an additional 2,496 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of Genmab A/S by 636.3% during the second quarter. Squarepoint Ops LLC now owns 94,233 shares of the company’s stock valued at $1,947,000 after acquiring an additional 81,434 shares during the period. Quantinno Capital Management LP lifted its stake in shares of Genmab A/S by 64.9% during the second quarter. Quantinno Capital Management LP now owns 158,132 shares of the company’s stock valued at $3,267,000 after acquiring an additional 62,226 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in Genmab A/S by 48.1% in the second quarter. Raymond James Financial Inc. now owns 31,146 shares of the company’s stock valued at $643,000 after acquiring an additional 10,113 shares during the last quarter. Institutional investors and hedge funds own 7.07% of the company’s stock.

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.