Morgan Stanley Reaffirms "Equal Weight" Rating for Genmab A/S (NASDAQ:GMAB)

Morgan Stanley reissued their equal weight rating on shares of Genmab A/S (NASDAQ:GMAB - Free Report) in a research note issued to investors on Wednesday, MarketBeat reports. Morgan Stanley currently has a $31.00 price objective on the stock.

GMAB has been the subject of a number of other research reports. BTIG Research upped 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 report on Thursday, June 27th. HC Wainwright restated a buy rating and issued a $50.00 target price on shares of Genmab A/S in a research note on Tuesday, August 27th. JPMorgan Chase & Co. reiterated a neutral rating on shares of Genmab A/S in a research note on Tuesday, August 20th. Royal Bank of Canada upgraded shares of Genmab A/S from a sector perform rating to an outperform rating in a research note on Monday, July 15th. Finally, Truist Financial raised their price objective on shares of Genmab A/S from $50.00 to $53.00 and gave the stock a buy rating in a report on Tuesday, June 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Genmab A/S currently has an average rating of Hold and a consensus price target of $45.80.

Genmab A/S Stock Performance

Shares of NASDAQ:GMAB traded up $0.18 during midday trading on Wednesday, hitting $27.59. The company's stock had a trading volume of 328,521 shares, compared to its average volume of 579,827. The stock's 50 day simple moving average is $26.96 and its 200 day simple moving average is $28.15. The stock has a market capitalization of $18.25 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 0.88 and a beta of 0.97. Genmab A/S has a fifty-two week low of $24.53 and a fifty-two week high of $38.80.

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

Institutional Trading of Genmab A/S

Several large investors have recently added to or reduced their stakes in GMAB. Point72 Asset Management L.P. acquired a new position in shares of Genmab A/S in the 2nd quarter worth approximately $457,000. Cubist Systematic Strategies LLC boosted its stake in Genmab A/S by 109.7% in the second quarter. Cubist Systematic Strategies LLC now owns 278,541 shares of the company's stock worth $7,000,000 after purchasing an additional 145,689 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Genmab A/S by 7.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 7,227 shares of the company's stock worth $182,000 after purchasing an additional 478 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Genmab A/S by 7.6% during the second quarter. Renaissance Technologies LLC now owns 1,462,459 shares of the company's stock worth $36,752,000 after purchasing an additional 103,859 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Genmab A/S by 26.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 218,078 shares of the company's stock valued at $5,480,000 after buying an additional 45,376 shares in the last quarter. 7.07% of the stock is owned by institutional investors.

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.