Shares of MacroGenics, Inc. (NASDAQ:MGNX) have earned a consensus rating of “Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $31.33.
Several research firms recently weighed in on MGNX. Stifel Nicolaus restated a “buy” rating and issued a $34.00 price objective on shares of MacroGenics in a research report on Tuesday, September 12th. SunTrust Banks, Inc. restated a “buy” rating and issued a $26.00 price objective on shares of MacroGenics in a research report on Friday, September 1st. Zacks Investment Research cut shares of MacroGenics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. ValuEngine cut shares of MacroGenics from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Finally, BidaskClub upgraded shares of MacroGenics from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th.
MacroGenics (MGNX) traded down $0.50 during trading hours on Friday, hitting $19.80. 72,915 shares of the stock were exchanged, compared to its average volume of 262,692. MacroGenics has a 52 week low of $14.36 and a 52 week high of $28.90.
MacroGenics (NASDAQ:MGNX) last posted its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.19). MacroGenics had a negative net margin of 1,526.55% and a negative return on equity of 69.31%. The firm had revenue of $1.70 million during the quarter, compared to the consensus estimate of $5.50 million. During the same quarter last year, the firm posted ($0.97) EPS. The business’s revenue was down 48.5% on a year-over-year basis. sell-side analysts forecast that MacroGenics will post -0.7 EPS for the current fiscal year.
In other news, SVP Jon Marc Wigginton sold 10,000 shares of the business’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the transaction, the senior vice president now owns 40,000 shares of the company’s stock, valued at approximately $800,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.30% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in MGNX. Russell Investments Group Ltd. acquired a new position in shares of MacroGenics in the 2nd quarter valued at $133,000. Legal & General Group Plc grew its holdings in shares of MacroGenics by 4.3% in the 2nd quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock valued at $138,000 after buying an additional 328 shares during the period. SG Americas Securities LLC boosted its stake in MacroGenics by 92.2% in the 2nd quarter. SG Americas Securities LLC now owns 10,812 shares of the biopharmaceutical company’s stock worth $189,000 after purchasing an additional 5,187 shares during the period. Parametric Portfolio Associates LLC acquired a new position in MacroGenics in the 2nd quarter worth $203,000. Finally, Virtu KCG Holdings LLC acquired a new position in MacroGenics in the 2nd quarter worth $232,000. 82.75% of the stock is owned by institutional investors.
WARNING: This piece was first published by Transcript Daily and is the property of of Transcript Daily. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be accessed at https://transcriptdaily.com/2017/11/26/macrogenics-inc-mgnx-given-average-recommendation-of-buy-by-brokerages.html.
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.
Receive News & Ratings for MacroGenics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MacroGenics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.