Truist Financial Lowers Genmab A/S (NASDAQ:GMAB) Price Target to $50.00

Genmab A/S (NASDAQ:GMAB - Free Report) had its target price cut by Truist Financial from $53.00 to $50.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. restated a neutral rating on shares of Genmab A/S in a research note on Tuesday, August 20th. BTIG Research boosted their price objective on shares of Genmab A/S from $46.00 to $47.00 and gave the company a buy rating in a research note on Thursday, June 27th. Morgan Stanley reiterated an equal weight rating and issued a $31.00 target price on shares of Genmab A/S in a research note on Wednesday, September 4th. HC Wainwright restated a buy rating and set a $50.00 price target on shares of Genmab A/S in a research report on Tuesday, August 27th. Finally, Royal Bank of Canada upgraded Genmab A/S from a sector perform rating to an outperform rating in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $45.20.

Genmab A/S Stock Performance

NASDAQ GMAB traded down $0.06 during trading on Monday, hitting $27.46. 369,338 shares of the company's stock traded hands, compared to its average volume of 576,456. The stock has a market capitalization of $18.16 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 0.87 and a beta of 0.99. Genmab A/S has a 12-month low of $24.53 and a 12-month high of $38.80. The business has a 50 day moving average of $27.11 and a 200-day moving average of $28.12.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.07). The business had revenue of $779.50 million during the quarter, compared to analysts' expectations of $734.60 million. Genmab A/S had a net margin of 29.06% and a return on equity of 17.48%. On average, analysts expect that Genmab A/S will post 1.21 EPS for the current year.

Institutional Trading of Genmab A/S

A number of hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in Genmab A/S by 360.5% in the first quarter. SG Americas Securities LLC now owns 29,500 shares of the company's stock worth $882,000 after purchasing an additional 23,094 shares during the last quarter. Harding Loevner LP boosted its holdings in Genmab A/S by 2.7% during the 4th quarter. Harding Loevner LP now owns 3,289,895 shares of the company's stock valued at $97,569,000 after acquiring an additional 85,665 shares during the period. Capital International Investors grew its position in Genmab A/S by 7.8% during the 1st quarter. Capital International Investors now owns 4,373,277 shares of the company's stock worth $130,805,000 after acquiring an additional 315,355 shares during the last quarter. Aigen Investment Management LP purchased a new position in Genmab A/S in the 4th quarter worth approximately $1,143,000. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Genmab A/S by 2.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 27,755 shares of the company's stock valued at $830,000 after purchasing an additional 633 shares during the last quarter. Institutional investors own 7.07% of the company's stock.

About Genmab A/S

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; and Amivantamab for advanced or metastatic gastric or esophageal cancer and NSCLC.