10 Best Affordable Stocks Under $40 According to Short Sellers

4) Genmab A/S (NASDAQ:GMAB)

Forward P/E Ratio as of 26 August: 20.96x

Share Price as of 26 August: $27.36

Number of Hedge Fund Holders: 13

Short % of Shares Outstanding (31 July 2024): 0.47%

Genmab A/S (NASDAQ:GMAB) is a Copenhagen-based biotechnology company, which specializes in antibody therapeutics for the treatment of cancer.

Genmab A/S (NASDAQ:GMAB) remains focused on the development of monoclonal antibody and bispecific antibody therapies in oncology indications. Its renowned drug, Darzalex (or daratumumab), came into effect after the partnership with Johnson & Johnson (NYSE:JNJ) for multiple myeloma.

Now, Darzalex is entrenched in multiple myeloma care for numerous lines of therapy, which also includes the frontline setting. Not only this, this drug is also used in combination treatments. This further unlocks greater market potential. Genmab A/S (NASDAQ:GMAB) receives royalties of up to 20% from Johnson & Johnson (NYSE:JNJ) on Darzalex sales, apart from milestones from the company’s antibody platform partnerships.

Genmab A/S (NASDAQ:GMAB) expects strong net sales for its royalty medicines, especially Darzalex, and growth from Epkinly and Tivdak. In 1H 2024, Darzalex saw an increase in demand, with net sales touching $5.57 billion. Moving forward, the acquisition of ProfoundBio and the approvals of Epkinly and Tivdak are expected to support long-term revenue and earnings growth.

Truist Financial increased its price target on shares of Genmab A/S (NASDAQ:GMAB) from $50.00 to $53.00, giving it a “Buy” rating on 4^th June. Insider Monkey’s 2Q 2024 data revealed that Genmab A/S (NASDAQ:GMAB) was in the portfolios of 13 hedge funds.