Genmab A/S (NASDAQ:GMAB) Raised to “Buy” at The Goldman Sachs Group

Genmab A/S (NASDAQ:GMAB) was upgraded by analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat.com reports.

A number of other equities analysts have also recently weighed in on GMAB. Truist Financial raised Genmab A/S to a “strong-buy” rating in a research note on Wednesday, March 25th. HC Wainwright upped their price objective on shares of Genmab A/S from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Wells Fargo & Company began coverage on shares of Genmab A/S in a report on Monday, March 2nd. They issued an “overweight” rating and a $40.00 target price for the company. Guggenheim dropped their target price on shares of Genmab A/S from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Finally, Wall Street Zen lowered shares of Genmab A/S from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.36.

Genmab A/S Stock Performance

GMAB opened at $26.98 on Wednesday. The company has a quick ratio of 2.01, a current ratio of 2.02 and a debt-to-equity ratio of 0.86. The firm has a market cap of $17.33 billion, a PE ratio of 17.41, a P/E/G ratio of 1.24 and a beta of 0.97. The business has a fifty day simple moving average of $27.73 and a 200-day simple moving average of $30.27. Genmab A/S has a fifty-two week low of $18.89 and a fifty-two week high of $35.43.

Genmab A/S (NASDAQ:GMAB) last announced its earnings results on Wednesday, February 18th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.41). Genmab A/S had a return on equity of 17.35% and a net margin of 25.89%.The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. As a group, equities analysts predict that Genmab A/S will post 1.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

Several hedge funds have recently bought and sold shares of GMAB. CIBC Private Wealth Group LLC grew its stake in Genmab A/S by 291.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 827 shares of the company’s stock valued at $25,000 after acquiring an additional 616 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of Genmab A/S by 37.8% in the second quarter. Osaic Holdings Inc. now owns 1,603 shares of the company’s stock worth $33,000 after purchasing an additional 440 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Genmab A/S by 1,229.0% in the third quarter. NewEdge Advisors LLC now owns 1,236 shares of the company’s stock worth $38,000 after purchasing an additional 1,143 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Genmab A/S by 143.4% during the third quarter. Brown Brothers Harriman & Co. now owns 1,324 shares of the company’s stock worth $41,000 after purchasing an additional 780 shares during the period. Finally, Founders Capital Management boosted its holdings in shares of Genmab A/S by 40.0% during the fourth quarter. Founders Capital Management now owns 1,400 shares of the company’s stock worth $43,000 after purchasing an additional 400 shares during the period. 7.07% of the stock is owned by hedge funds and other institutional investors.

Genmab A/S Company Profile

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.