Genmab A/S (GMAB) Initiated with a Buy at Morgan Stanley

In a report issued on August 12, Matthew Harrison from Morgan Stanley initiated coverage with a Buy rating on Genmab A/S (GMABResearch Report). The company’s shares closed last Monday at $19.90, close to its 52-week high of $19.96.

According to TipRanks.com, Harrison is a 4-star analyst with an average return of 7.1% and a 57.4% success rate. Harrison covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, BioMarin Pharmaceutical Inc., and Global Blood Therapeutics.

Genmab A/S has an analyst consensus of Moderate Buy, with a price target consensus of $23, representing a 17.0% upside. In a report issued on August 12, RBC Capital also assigned a Buy rating to the stock with a $23 price target.

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Based on Genmab A/S’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $10.99 million. In comparison, last year the company had a net profit of $41.65 million.

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Genmab A/S operates as an international biotechnology company. The firm develops human antibody therapeutics for the treatment of cancer and other diseases.