H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Genmab (GMAB) today and set a price target of $42.00. The company’s shares closed last Wednesday at $35.37, close to its 52-week high of $38.87.
According to TipRanks.com, Selvaraju is a 5-star analyst with an average return of 18.4% and a 50.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries, Biospecifics Technologies, and Protalix Biotherapeutics.
Currently, the analyst consensus on Genmab is a Moderate Buy with an average price target of $38.25, a 6.6% upside from current levels. In a report issued on October 13, Morgan Stanley also maintained a Buy rating on the stock with a $35.00 price target.
See today’s analyst top recommended stocks >>
Based on Genmab’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.45 billion and net profit of $3.38 billion. In comparison, last year the company earned revenue of $774 million and had a net profit of $85 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Genmab A/S operates as an international biotechnology company. The firm develops human antibody therapeutics for the treatment of cancer and other diseases. Its portfolio includes two products, daratumumab, marketed as DARZALEX for the treatment of certain indications of multiple myeloma; and ofatumumab, marketed as Arzerra for the treatment of certain indications of chronic lymphocytic leukemia. The company was founded by Donald Lee Drakeman, Florian Schonharting, and Jan G. J. van de Winkel on June 11, 1998 and is headquartered in Copenhagen, Denmark.
