Genmab A/S (NASDAQ:GMAB) Downgraded by Royal Bank of Canada to “Sector Perform”

Genmab A/S (NASDAQ:GMAB) was downgraded by stock analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued on Wednesday, FlyOnTheWall reports.

Several other brokerages also recently weighed in on GMAB. Morgan Stanley restated an “underweight” rating on shares of Genmab A/S in a research note on Monday, July 31st. HSBC assumed coverage on shares of Genmab A/S in a report on Friday, July 14th. They issued a “buy” rating for the company. HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price target on shares of Genmab A/S in a report on Tuesday. UBS Group assumed coverage on shares of Genmab A/S in a report on Wednesday, May 31st. They issued a “neutral” rating for the company. Finally, BTIG Research assumed coverage on shares of Genmab A/S in a report on Thursday, August 24th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $932.50.

Genmab A/S Stock Performance

NASDAQ GMAB opened at $38.00 on Wednesday. The company has a market cap of $25.09 billion, a PE ratio of 38.00, a P/E/G ratio of 2.29 and a beta of 0.94. Genmab A/S has a 52-week low of $31.40 and a 52-week high of $47.50. The firm’s 50 day moving average price is $38.52 and its 200-day moving average price is $38.80.

Genmab A/S (NASDAQ:GMAB) last announced its earnings results on Thursday, August 3rd. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). The firm had revenue of $613.43 million during the quarter, compared to analyst estimates of $618.77 million. Genmab A/S had a net margin of 28.78% and a return on equity of 16.93%. On average, analysts forecast that Genmab A/S will post 1.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GMAB. Greenleaf Trust grew its position in Genmab A/S by 4.8% during the first quarter. Greenleaf Trust now owns 6,350 shares of the company’s stock valued at $240,000 after buying an additional 290 shares during the period. Wealth Alliance grew its position in Genmab A/S by 2.9% during the second quarter. Wealth Alliance now owns 10,567 shares of the company’s stock valued at $402,000 after buying an additional 299 shares during the period. Rockefeller Capital Management L.P. grew its position in Genmab A/S by 1.7% during the first quarter. Rockefeller Capital Management L.P. now owns 18,508 shares of the company’s stock valued at $698,000 after buying an additional 310 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in Genmab A/S by 2.2% during the first quarter. Vanguard Personalized Indexing Management LLC now owns 15,914 shares of the company’s stock valued at $601,000 after buying an additional 338 shares during the period. Finally, Vestmark Advisory Solutions Inc. grew its position in Genmab A/S by 1.1% during the second quarter. Vestmark Advisory Solutions Inc. now owns 38,335 shares of the company’s stock valued at $1,457,000 after buying an additional 401 shares during the period. Hedge funds and other institutional investors own 6.29% of the company’s stock.

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; ofatumurnab, a human monoclonal antibody to treat chronic lymphocytic leukemia (CLL) and multiple sclerosis; and Amivantamab for advanced or metastatic gastric or esophageal cancer and NSCLC.