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

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

Genmab A/S Trading Up 3.5 %

GMAB stock traded up $0.78 during trading on Thursday, reaching $23.11. 1,266,500 shares of the stock were exchanged, compared to its average volume of 670,717. The business has a 50 day moving average price of $24.57 and a 200-day moving average price of $26.47. Genmab A/S has a 1 year low of $21.90 and a 1 year high of $32.89. The firm has a market capitalization of $15.29 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 0.68 and a beta of 0.99.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Truist Financial dropped their target price on shares of Genmab A/S from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Royal Bank of Canada upgraded shares of Genmab A/S from a “sector perform” rating to an “outperform” rating in a research report on Monday, July 15th. Morgan Stanley reiterated an “equal weight” rating and issued a $31.00 target price on shares of Genmab A/S in a research report on Wednesday, September 11th. HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Genmab A/S in a research report on Wednesday, October 16th. Finally, Redburn Atlantic assumed coverage on shares of Genmab A/S in a research report on Tuesday, October 8th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.