MacroGenics, Inc. (NASDAQ:MGNX) Receives $8.11 Average PT from Brokerages

MacroGenics, Inc. (NASDAQ:MGNX) has been assigned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $8.11.

A number of research firms recently weighed in on MGNX. BTIG Research downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. JMP Securities decreased their target price on shares of MacroGenics from $16.00 to $8.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 31st. StockNews.com raised shares of MacroGenics from a “sell” rating to a “hold” rating in a research report on Friday. B. Riley downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating and decreased their target price for the company from $18.00 to $5.00 in a research report on Wednesday, July 31st. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $4.00 target price on shares of MacroGenics in a research report on Wednesday, September 18th.

MacroGenics Stock Up 0.9 %

Shares of MGNX stock opened at $3.52 on Friday. The firm has a fifty day moving average of $3.54 and a 200-day moving average of $5.67. MacroGenics has a 12-month low of $2.95 and a 12-month high of $21.88. The company has a market capitalization of $220.47 million, a price-to-earnings ratio of -9.03 and a beta of 2.08.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.42). MacroGenics had a negative return on equity of 146.01% and a negative net margin of 332.47%. The company had revenue of $10.80 million for the quarter, compared to the consensus estimate of $24.14 million. On average, equities analysts expect that MacroGenics will post -1.72 EPS for the current year.

Institutional Trading of MacroGenics

A number of hedge funds have recently modified their holdings of MGNX. EntryPoint Capital LLC acquired a new stake in shares of MacroGenics during the 1st quarter worth about $40,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of MacroGenics by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 4,707 shares during the last quarter. CANADA LIFE ASSURANCE Co acquired a new stake in shares of MacroGenics during the 1st quarter worth about $52,000. SG Americas Securities LLC acquired a new stake in shares of MacroGenics during the 3rd quarter worth about $55,000. Finally, DRW Securities LLC acquired a new stake in shares of MacroGenics during the 2nd quarter worth about $56,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.