Wells Fargo & Company Initiates Coverage on Genmab A/S (NASDAQ:GMAB)

Equities research analysts at Wells Fargo & Company assumed coverage on shares of Genmab A/S (NASDAQ:GMAB) in a research report issued on Monday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $40.00 price target on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 44.61% from the company’s previous close.

GMAB has been the subject of several other reports. Guggenheim lowered their target price on Genmab A/S from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Truist Financial reissued a “buy” rating and issued a $48.00 price target (down from $49.00) on shares of Genmab A/S in a report on Thursday, November 6th. Jefferies Financial Group assumed coverage on Genmab A/S in a report on Tuesday, February 17th. They set a “buy” rating and a $41.50 price objective on the stock. Morgan Stanley started coverage on Genmab A/S in a research report on Monday, February 16th. They issued an “equal weight” rating and a $34.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Genmab A/S from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $40.58.

Genmab A/S Stock Down 6.7%

Shares of NASDAQ:GMAB opened at $27.66 on Monday. The company has a market capitalization of $17.77 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 1.22 and a beta of 0.94. The company has a 50 day moving average of $31.72 and a two-hundred day moving average of $30.37. Genmab A/S has a 52-week low of $17.24 and a 52-week high of $35.43. The company has a quick ratio of 2.01, a current ratio of 2.02 and a debt-to-equity ratio of 0.86.

Genmab A/S (NASDAQ:GMAB) last announced its earnings results on Tuesday, February 17th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.41). The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Genmab A/S had a net margin of 25.89% and a return on equity of 17.35%. As a group, analysts forecast that Genmab A/S will post 1.45 earnings per share for the current fiscal year.

Institutional Trading of Genmab A/S

Several institutional investors have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC lifted its position in shares of Genmab A/S by 291.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 827 shares of the company’s stock worth $25,000 after buying an additional 616 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in 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 acquiring an additional 440 shares during the last quarter. CWM LLC boosted its stake in Genmab A/S by 50.5% in the second quarter. CWM LLC now owns 1,797 shares of the company’s stock valued at $37,000 after acquiring an additional 603 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Genmab A/S by 1,229.0% during the third quarter. NewEdge Advisors LLC now owns 1,236 shares of the company’s stock valued at $38,000 after purchasing an additional 1,143 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in shares of Genmab A/S by 143.4% during the 3rd 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. 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.