MacroGenics, Inc. (NASDAQ:MGNX) Receives $7.63 Consensus Price Target from Analysts

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been assigned an average rating of “Hold” from the eleven analysts that are covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $7.63.

Separately, StockNews.com lowered shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Friday.

Institutional Investors Weigh In On MacroGenics

Large investors have recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. lifted its holdings in MacroGenics by 5.5% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,175,665 shares of the biopharmaceutical company’s stock worth $10,321,000 after buying an additional 164,938 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of MacroGenics by 7.1% during the fourth quarter. Two Sigma Advisers LP now owns 1,118,600 shares of the biopharmaceutical company’s stock worth $3,635,000 after acquiring an additional 74,596 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of MacroGenics by 32.4% in the fourth quarter. ProShare Advisors LLC now owns 20,284 shares of the biopharmaceutical company’s stock worth $66,000 after acquiring an additional 4,963 shares in the last quarter. Lazard Asset Management LLC purchased a new position in MacroGenics in the fourth quarter valued at about $32,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in MacroGenics during the 4th quarter valued at approximately $364,000. 96.89% of the stock is owned by institutional investors and hedge funds.

MacroGenics Price Performance

Shares of NASDAQ MGNX opened at $2.00 on Friday. The firm’s 50-day moving average is $2.66 and its two-hundred day moving average is $3.22. The company has a market capitalization of $125.53 million, a PE ratio of -1.27 and a beta of 2.12. MacroGenics has a 12-month low of $1.89 and a 12-month high of $19.54.

MacroGenics (NASDAQ:MGNX) last announced its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The company had revenue of $49.40 million for the quarter, compared to analyst estimates of $34.17 million. MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. On average, analysts forecast that MacroGenics will post -1.06 EPS for the current fiscal year.

MacroGenics Company Profile

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.