Genmab A/S (NASDAQ :GMAB) – Suitable For Long Term Buy?

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    Redmile Group LLC recently announced the acquisition of new stake in Genmab A/S (NASDAQ:GMAB). The institutional investor has increased its shareholding in the Healthcare company by 65.37% to 1.55 million shares with purchase of 0.61 million shares. This fresh investment now brings its stake to 0.24% valued currently at $47.2 million. In addition, Ivy Investment Management Co. raised its holdings by 1.54 million to 1.54 million shares. And BlackRock Advisors LLC has lifted its position by 68.73% or 0.49 million shares – to 1.21 million shares.

    With over 0.6 million Genmab A/S (GMAB) shares trading Monday and a closing price of $34.26 on the day, the dollar volume was approximately $20.59 million. The shares have shown a positive weekly performance of 7.10% and its price on 07/06/20 gained nearly 2.45%. Currently, there are 651.83M common shares owned by the public and among those 642.65M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: Several analysts who have offered their price forecasts for GMAB have a consensus price objective of $32.46. The analysts have set the share’s price value over the next 12 months at a high of $40.00 and a low of $20.67 should the stock experience a downside. Incidentally, analysts’ outlook for the Genmab A/S stock is 1.80 for the next 12 months. The average price target is 5.1% above its last price level and an upside to the estimated low will see the stock lose -65.75% over that period. But an upside of 14.35% will see the stock hit the forecast high price target while mean target price for the stock is $33.24.

    Insiders at the company have nil transactions over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC).

    The top 3 mutual fund holders in Genmab A/S are Vanguard Health Care Fund, Ivy Mid Cap Growth Fund, and BlackRock Global Funds – World He. Vanguard Health Care Fund owns 3.15 million shares of the company’s stock, all valued at over $95.99 million. The company has a total holdings of about 0.48% of the shares outstanding. Ivy Mid Cap Growth Fund bought 1.15 million shares to see its total holdings risen to 1.15 million shares valued at over $34.96 million and representing 0.18% of the shares outstanding. BlackRock Global Funds – World He bought 0.33 million shares to bring its total holdings to over 1.09 million shares at a value of $33.32 million. BlackRock Global Funds – World He now owns shares totaling to 0.17% of the shares outstanding.

    Shares of Genmab A/S (NASDAQ: GMAB) opened at $34.03, up $0.59 from a prior closing price of $33.44. However, the script later closed the day at $34.26, up 2.45%. The company’s stock has a 5-day price change of 7.10% and 69.44% over the past three months. GMAB shares are trading 53.43% year to date (YTD), with the 12-month market performance up to 88.86% higher. It has a 12-month low price of $16.24 and touched a high of $33.99 over the same period. Currently, 0.6 million shares have been traded, compared to an average intraday trading volume of 1.02 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.92%, 17.66%, and 44.38% respectively.

    Institutional ownership of Genmab A/S (NASDAQ: GMAB) shares accounts for 4.00% of the company’s 651.83M shares outstanding. Mutual fund holders own 1.65%, while other institutional holders and individual stakeholders account for 2.72% and — respectively.

    It has a market capitalization of $22.33B . Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.80% over the week and 2.48% over the month.

    Analysts forecast that Genmab A/S (GMAB) will achieve an EPS of $6.15 for the current quarter, $0.57 for the next quarter and $5.92 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.01 while analysts give the company a high EPS estimate of $8.35. Comparatively, EPS for the current quarter was $0.2 a year ago. Earnings per share for the fiscal year are expected to increase by 111.60%, and -45.20% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 22 brokerage firm advisors rate Genmab A/S (GMAB) as a “Strong Buy” at a consensus score of 1.80. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 6 of the 22 advise that investors “hold,” and 2 rated it as a “Sell.”

    Looking at the support for the GMAB, a number of firms have released research notes about the stock. Credit Suisse stated their Neutral rating for the stock in a research note on June 25, 2020. Credit Suisse coverage for the Genmab A/S (GMAB) stock in a research note released on April 23, 2020 offered a Outperform rating with a price target of . H.C. Wainwright was of a view on February 24, 2020 that the stock is Buy, while SunTrust gave the stock Buy rating on January 13, 2020 $28. Deutsche Bank on their part issued Hold rating on December 12, 2019.

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