MacroGenics (NASDAQ:MGNX) Price Target Lowered to $2.00 at HC Wainwright

MacroGenics (NASDAQ:MGNX) had its target price decreased by HC Wainwright from $4.00 to $2.00 in a research note released on Tuesday,Benzinga reports. HC Wainwright currently has a neutral rating on the biopharmaceutical company’s stock.

Separately, StockNews.com downgraded shares of MacroGenics from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Nine research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.38.

MacroGenics Trading Down 8.7 %

MGNX stock opened at $1.79 on Tuesday. The company has a market capitalization of $112.35 million, a P/E ratio of -1.13 and a beta of 2.12. The business has a 50 day simple moving average of $2.61 and a 200-day simple moving average of $3.20. MacroGenics has a twelve month low of $1.76 and a twelve month high of $19.54.

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

Institutional Investors Weigh In On MacroGenics

A number of institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in shares of MacroGenics by 5.4% during the 4th quarter. Wellington Management Group LLP now owns 323,857 shares of the biopharmaceutical company’s stock worth $1,053,000 after buying an additional 16,717 shares in the last quarter. Frazier Life Sciences Management L.P. raised its position in MacroGenics by 5.5% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,175,665 shares of the biopharmaceutical company’s stock worth $10,321,000 after acquiring an additional 164,938 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in MacroGenics by 7.1% in the fourth quarter. Two Sigma Advisers LP now owns 1,118,600 shares of the biopharmaceutical company’s stock valued at $3,635,000 after acquiring an additional 74,596 shares during the period. ProShare Advisors LLC lifted its holdings in MacroGenics by 32.4% in the fourth quarter. ProShare Advisors LLC now owns 20,284 shares of the biopharmaceutical company’s stock valued at $66,000 after acquiring an additional 4,963 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in shares of MacroGenics during the 4th quarter worth $32,000. Hedge funds and other institutional investors 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.