Genmab A/S (NASDAQ:GMAB) Price Target Raised to $80.00

Genmab A/S (NASDAQ:GMAB) had its price target lifted by Guggenheim from $58.00 to $80.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

GMAB has been the topic of a number of other research reports. HC Wainwright increased their price target on shares of Genmab A/S from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday. Truist Financial reaffirmed a “buy” rating and issued a $67.00 price objective (up from $45.00) on shares of Genmab A/S in a report on Thursday. TD Cowen upped their target price on shares of Genmab A/S from $43.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, October 26th. JPMorgan Chase & Co. raised shares of Genmab A/S from a “neutral” rating to an “overweight” rating in a research note on Monday, October 26th. Finally, New Street Research set a $43.00 price target on Genmab A/S in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.61.

Genmab A/S Stock Performance

Shares of NASDAQ GMAB opened at $57.06 on Friday. The company has a market cap of $35.61 billion, a P/E ratio of 44.93, a P/E/G ratio of 2.28 and a beta of 0.72. The business’s 50 day moving average is $37.12 and its two-hundred day moving average is $30.58. Genmab A/S has a 12 month low of $23.62 and a 12 month high of $59.97. The company has a quick ratio of 2.44, a current ratio of 2.46 and a debt-to-equity ratio of 0.81.

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

Institutional Investors Weigh In On Genmab A/S

A number of hedge funds and other institutional investors have recently bought and sold shares of GMAB. Integrated Wealth Concepts LLC purchased a new stake in Genmab A/S in the 2nd quarter valued at about $31,000. V Square Quantitative Management LLC bought a new stake in Genmab A/S during the first quarter worth approximately $34,000. Nykredit A S acquired a new position in Genmab A/S in the 2nd quarter valued at approximately $58,000. GAMMA Investing LLC increased its holdings in Genmab A/S by 16.4% in the 2nd quarter. GAMMA Investing LLC now owns 3,978 shares of the company’s stock valued at $109,000 after buying an additional 561 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Genmab A/S by 51.6% in the first quarter. EverSource Wealth Advisors LLC now owns 4,597 shares of the company’s stock valued at $123,000 after buying an additional 1,565 shares during the period. Hedge funds and other institutional investors own 7.07% of the company’s stock.

Key Headlines Impacting Genmab A/S

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

• Positive Sentiment: Genmab reported that its cancer drug reduced the risk of death by 50% in a head-and-neck cancer trial and met the study’s primary goals. The results could strengthen the drug’s commercial prospects and support potential changes to treatment standards. Genmab drug cuts death risk 50% in head and neck cancer trial
• Positive Sentiment: Analysts raised their valuation expectations: Guggenheim increased its price target to $80 from $58 and maintained a Buy rating; Morgan Stanley raised its target to $57 from $42 while retaining an Equal Weight rating; and Goldman Sachs initiated or reiterated a Buy recommendation. Guggenheim analyst recommendation Genmab receives a Buy from Goldman Sachs
• Positive Sentiment: Truist reaffirmed its Buy rating and lifted its target to $67 from $45, while HC Wainwright raised its target to $70 from $50. HC Wainwright also maintained a Buy rating, suggesting analysts see additional upside despite the recent rally. HC Wainwright analyst recommendation
• Positive Sentiment: Coverage describing Genmab as potentially undervalued after its trial successes adds to the bullish narrative around the company’s pipeline and long-term growth prospects. Can Genmab still be undervalued after its trial wins?

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.