Genmab A/S (NASDAQ:GMAB) Upgraded to Buy at TD Cowen

TD Cowen upgraded shares of Genmab A/S (NASDAQ:GMAB) from a hold rating to a buy rating in a research note released on Wednesday, MarketBeat reports. The brokerage currently has $43.00 price target on the stock, up from their prior price target of $32.00.

GMAB has been the topic of a number of other reports. BNP Paribas Exane raised shares of Genmab A/S from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 22nd. Truist Financial assumed coverage on shares of Genmab A/S in a research report on Wednesday, May 27th. They issued a “buy” rating and a $40.00 price objective for the company. Weiss Ratings downgraded Genmab A/S from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. HC Wainwright lifted their target price on Genmab A/S from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, Wolfe Research began coverage on Genmab A/S in a report on Friday, March 27th. They set an “outperform” rating and a $32.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.28.

Genmab A/S Stock Up 1.7%

Genmab A/S stock opened at $28.85 on Wednesday. The company’s 50 day simple moving average is $26.72 and its 200 day simple moving average is $28.34. Genmab A/S has a fifty-two week low of $21.00 and a fifty-two week high of $35.43. The firm has a market capitalization of $17.99 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 1.80 and a beta of 0.84. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.18 and a quick ratio of 2.17.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Orbis Allan Gray Ltd increased its position in shares of Genmab A/S by 30.2% during the fourth quarter. Orbis Allan Gray Ltd now owns 14,418,462 shares of the company’s stock worth $444,089,000 after acquiring an additional 3,340,456 shares in the last quarter. Paradigm Biocapital Advisors LP lifted its position in Genmab A/S by 84.4% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,039,834 shares of the company’s stock valued at $216,827,000 after acquiring an additional 3,222,983 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Genmab A/S by 36.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,978,058 shares of the company’s stock valued at $153,324,000 after acquiring an additional 1,334,919 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Genmab A/S by 26.4% in the 1st quarter. Renaissance Technologies LLC now owns 4,414,550 shares of the company’s stock worth $118,442,000 after purchasing an additional 921,700 shares during the period. Finally, First Trust Advisors LP boosted its stake in Genmab A/S by 84.3% in the 1st quarter. First Trust Advisors LP now owns 2,461,342 shares of the company’s stock worth $66,038,000 after purchasing an additional 1,126,069 shares during the period. Institutional investors own 7.07% of the company’s stock.

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.