Genmab A/S (NASDAQ:GMAB) Downgraded to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada cut shares of Genmab A/S (NASDAQ:GMAB) from an outperform rating to a sector perform rating in a research note published on Wednesday, Marketbeat.com reports.

Several other research analysts have also recently commented on GMAB. HSBC assumed coverage on Genmab A/S in a research report on Friday, July 14th. They issued a buy rating for the company. HC Wainwright reaffirmed a buy rating and issued a $51.00 target price on shares of Genmab A/S in a research report on Tuesday. BTIG Research assumed coverage on Genmab A/S in a research report on Thursday, August 24th. They issued a buy rating for the company. UBS Group assumed coverage on Genmab A/S in a research report on Wednesday, May 31st. They issued a neutral rating for the company. Finally, Morgan Stanley reaffirmed an underweight rating on shares of Genmab A/S in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $756.80.

Genmab A/S Trading Down 1.5 %

Shares of Genmab A/S stock opened at $37.43 on Wednesday. The company’s fifty day simple moving average is $38.52 and its 200-day simple moving average is $38.79. The company has a market cap of $24.72 billion, a price-to-earnings ratio of 37.43, a PEG ratio of 2.29 and a beta of 0.94. Genmab A/S has a 1 year low of $31.40 and a 1 year high of $47.50.

Genmab A/S (NASDAQ:GMAB) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.01). The company had revenue of $613.43 million during the quarter, compared to analyst estimates of $618.77 million. Genmab A/S had a return on equity of 16.93% and a net margin of 28.78%. As a group, research analysts forecast that Genmab A/S will post 1.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GMAB. JPMorgan Chase & Co. lifted its holdings in shares of Genmab A/S by 42.7% during the first quarter. JPMorgan Chase & Co. now owns 135,116 shares of the company’s stock valued at $4,889,000 after acquiring an additional 40,444 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Genmab A/S by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 116,847 shares of the company’s stock valued at $4,227,000 after buying an additional 4,665 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Genmab A/S by 24.0% in the first quarter. Private Advisor Group LLC now owns 20,119 shares of the company’s stock valued at $728,000 after buying an additional 3,891 shares in the last quarter. BlackRock Inc. increased its stake in shares of Genmab A/S by 1.6% in the first quarter. BlackRock Inc. now owns 5,494,689 shares of the company’s stock valued at $198,799,000 after buying an additional 86,571 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Genmab A/S by 18.1% in the first quarter. Dimensional Fund Advisors LP now owns 18,243 shares of the company’s stock valued at $660,000 after buying an additional 2,792 shares in the last quarter. 6.29% of the stock is owned by 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; ofatumurnab, a human monoclonal antibody to treat chronic lymphocytic leukemia (CLL) and multiple sclerosis; and Amivantamab for advanced or metastatic gastric or esophageal cancer and NSCLC.