Stifel Nicolaus Has Lowered Expectations for MacroGenics (NASDAQ:MGNX) Stock Price

MacroGenics (NASDAQ:MGNX) had its price target lowered by equities researchers at Stifel Nicolaus from $6.00 to $5.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 224.68% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Barclays restated an “overweight” rating and set a $3.00 target price (down from $8.00) on shares of MacroGenics in a research report on Wednesday. HC Wainwright dropped their target price on MacroGenics from $4.00 to $2.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Finally, StockNews.com cut MacroGenics from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Eight equities 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, MacroGenics has an average rating of “Hold” and an average target price of $6.38.

MacroGenics Stock Performance

NASDAQ MGNX opened at $1.54 on Wednesday. The stock has a 50-day simple moving average of $1.57 and a two-hundred day simple moving average of $2.62. The firm has a market capitalization of $97.16 million, a P/E ratio of -0.97 and a beta of 2.20. MacroGenics has a fifty-two week low of $0.99 and a fifty-two week high of $5.77.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.04). The company had revenue of $13.19 million for the quarter, compared to analysts’ expectations of $9.59 million. MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. As a group, analysts forecast that MacroGenics will post -1.06 earnings per share for the current year.

Hedge Funds Weigh In On MacroGenics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Armistice Capital LLC boosted its stake in MacroGenics by 0.3% in the first quarter. Armistice Capital LLC now owns 6,296,000 shares of the biopharmaceutical company’s stock valued at $7,996,000 after acquiring an additional 20,000 shares in the last quarter. State of Wyoming acquired a new position in MacroGenics in the first quarter valued at $28,000. American Century Companies Inc. boosted its stake in MacroGenics by 236.6% in the first quarter. American Century Companies Inc. now owns 39,525 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 27,782 shares in the last quarter. Nuveen LLC acquired a new position in MacroGenics in the first quarter valued at $252,000. Finally, Invesco Ltd. boosted its stake in MacroGenics by 90.0% in the first quarter. Invesco Ltd. now owns 68,377 shares of the biopharmaceutical company’s stock valued at $87,000 after acquiring an additional 32,398 shares in the last quarter. 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.