Genmab A/S (NASDAQ:GMAB) Given Equal Weight Rating at Morgan Stanley

Genmab A/S (NASDAQ:GMAB)‘s stock had its “equal weight” rating restated by Morgan Stanley in a report released on Monday,Benzinga reports. They currently have a $34.00 price target on the stock. Morgan Stanley’s price objective indicates a potential upside of 13.22% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. Johnson Rice reaffirmed a “buy” rating on shares of Genmab A/S in a research note on Monday, October 27th. HC Wainwright reaffirmed a “buy” rating and issued a $39.00 target price on shares of Genmab A/S in a research report on Wednesday, January 28th. Zacks Research lowered shares of Genmab A/S from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. Wall Street Zen downgraded shares of Genmab A/S from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $48.00 target price (down previously from $49.00) on shares of Genmab A/S in a research report on Thursday, November 6th. Five 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $41.00.

Genmab A/S Stock Performance

NASDAQ:GMAB opened at $30.03 on Monday. The stock has a 50-day simple moving average of $32.35 and a 200 day simple moving average of $29.76. Genmab A/S has a 52-week low of $17.24 and a 52-week high of $35.43. The company has a market cap of $19.29 billion, a PE ratio of 12.78, a PEG ratio of 17.63 and a beta of 0.90.

Hedge Funds Weigh In On Genmab A/S

A number of hedge funds and other institutional investors have recently bought and sold shares of GMAB. Alliancebernstein L.P. increased its position in Genmab A/S by 2.7% during the third quarter. Alliancebernstein L.P. now owns 10,953,913 shares of the company’s stock worth $335,957,000 after buying an additional 291,538 shares during the last quarter. Orbis Allan Gray Ltd boosted its stake in shares of Genmab A/S by 38.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 7,920,400 shares of the company’s stock worth $163,635,000 after acquiring an additional 2,209,659 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Genmab A/S by 36.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,978,058 shares of the company’s stock worth $153,324,000 after acquiring an additional 1,334,919 shares during the last quarter. Paradigm Biocapital Advisors LP acquired a new position in shares of Genmab A/S during the 3rd quarter worth approximately $117,063,000. Finally, Renaissance Technologies LLC raised its stake in Genmab A/S by 23.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,492,850 shares of the company’s stock valued at $107,580,000 after acquiring an additional 671,307 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.