Genmab A/S (NASDAQ:GMAB) Issues Earnings Results, Misses Expectations By $0.03 EPS

Genmab A/S (NASDAQ:GMAB) issued its earnings results on Wednesday. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03), Zacks reports. The company had revenue of $816.10 million during the quarter, compared to the consensus estimate of $838.20 million. Genmab A/S had a return on equity of 17.48% and a net margin of 29.06%. During the same quarter in the prior year, the company earned $0.47 earnings per share. Genmab A/S updated its FY 2024 guidance to EPS.

Genmab A/S Stock Performance

Shares of Genmab A/S stock traded up $0.78 during trading on Thursday, hitting $23.11. 1,266,500 shares of the company’s stock were exchanged, compared to its average volume of 670,717. The business has a 50-day simple moving average of $24.57 and a 200-day simple moving average of $26.47. Genmab A/S has a 52-week low of $21.90 and a 52-week high of $32.89. The stock has a market capitalization of $15.29 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 0.68 and a beta of 0.99.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. 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. Morgan Stanley reiterated an “equal weight” rating and set a $31.00 price objective on shares of Genmab A/S in a research note on Wednesday, September 11th. HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Genmab A/S in a research report on Wednesday, October 16th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Genmab A/S in a research report on Tuesday, August 20th. Finally, Redburn Atlantic began coverage on shares of Genmab A/S in a research report on Tuesday, October 8th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.20.

Genmab A/S Company Profile

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.