Genmab A/S (NASDAQ:GMAB) Reaches New 1-Year High – Here’s What Happened

Genmab A/S Sponsored ADR (NASDAQ:GMAB)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $33.99 and last traded at $33.85, with a volume of 593650 shares. The stock had previously closed at $33.10.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GMAB. Johnson Rice reaffirmed a “buy” rating on shares of Genmab A/S in a research report on Monday, October 27th. HC Wainwright boosted their price target on shares of Genmab A/S from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Guggenheim upgraded Genmab A/S from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Tuesday, September 23rd. Truist Financial reissued a “buy” rating and issued a $48.00 target price (down previously from $49.00) on shares of Genmab A/S in a research note on Thursday, November 6th. Finally, Zacks Research downgraded shares of Genmab A/S from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Genmab A/S currently has an average rating of “Moderate Buy” and an average target price of $39.75.

Genmab A/S Trading Up 2.5%

The stock’s 50-day simple moving average is $31.09 and its 200-day simple moving average is $27.58. The stock has a market cap of $21.80 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 2.01 and a beta of 0.90.

Genmab A/S (NASDAQ:GMAB) last issued its earnings results on Thursday, November 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.17. Genmab A/S had a return on equity of 23.98% and a net margin of 41.36%.The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $975.40 million. On average, equities research analysts forecast that Genmab A/S Sponsored ADR will post 1.45 earnings per share for the current year.

Institutional Investors Weigh In On Genmab A/S

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its stake in 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 buying an additional 1,143 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Genmab A/S by 143.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,324 shares of the company’s stock worth $41,000 after acquiring an additional 780 shares during the last quarter. Community Bank N.A. purchased a new stake in shares of Genmab A/S in the 3rd quarter valued at $47,000. Cromwell Holdings LLC raised its position in Genmab A/S by 136.3% in the 3rd quarter. Cromwell Holdings LLC now owns 1,531 shares of the company’s stock worth $47,000 after purchasing an additional 883 shares during the period. Finally, Osaic Holdings Inc. raised its holdings in Genmab A/S by 37.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,603 shares of the company’s stock valued at $33,000 after buying an additional 440 shares during the last quarter. Hedge funds and other institutional investors own 7.07% of the company’s stock.

About Genmab A/S

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.