Genmab A/S (NASDAQ:GMAB) Shares Gap Up – Time to Buy?

Shares of Genmab A/S (NASDAQ:GMAB) gapped up prior to trading on Wednesday . The stock had previously closed at $20.03, but opened at $20.76. Genmab A/S shares last traded at $20.71, with a volume of 171,097 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $48.00 target price (up from $46.00) on shares of Genmab A/S in a research report on Friday, November 8th. Redburn Atlantic began coverage on Genmab A/S in a research report on Tuesday, October 8th. They set a “buy” rating on the stock. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Genmab A/S in a report on Wednesday, October 16th. Truist Financial reduced their price target on shares of Genmab A/S from $53.00 to $50.00 and set a “buy” rating for the company in a report on Monday, September 9th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $31.00 target price on shares of Genmab A/S in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.20.

Genmab A/S Price Performance

The stock has a market cap of $13.29 billion, a PE ratio of 19.51, a PEG ratio of 0.67 and a beta of 0.96. The company’s fifty day moving average is $21.87 and its 200-day moving average is $24.87.

Genmab A/S (NASDAQ:GMAB) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). The firm had revenue of $816.10 million for the quarter, compared to analysts’ expectations of $838.20 million. Genmab A/S had a return on equity of 14.64% and a net margin of 23.49%. During the same period last year, the company posted $0.47 earnings per share. Analysts expect that Genmab A/S will post 1.28 EPS 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 stock. Oppenheimer Asset Management Inc. lifted its stake in Genmab A/S by 26.3% in the 2nd 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. Choreo LLC purchased a new stake in shares of Genmab A/S during the second quarter worth approximately $776,000. Charles Schwab Investment Management Inc. raised its stake in Genmab A/S by 94.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 26,104 shares of the company’s stock valued at $636,000 after purchasing an additional 12,654 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Genmab A/S by 7.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,462,459 shares of the company’s stock valued at $36,752,000 after purchasing an additional 103,859 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Genmab A/S during the 3rd quarter worth $709,000. Hedge funds and other 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.