Brokerages Set MacroGenics, Inc. (NASDAQ:MGNX) PT at $5.50

MacroGenics, Inc. (NASDAQ:MGNX) has been assigned an average rating of “Hold” from the seven research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $5.50.

MGNX has been the topic of a number of research reports. Barclays increased their target price on shares of MacroGenics from $4.00 to $6.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MacroGenics in a research report on Wednesday. Finally, B. Riley Financial upgraded MacroGenics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $3.00 to $9.00 in a research note on Friday, April 10th.

MacroGenics Price Performance

NASDAQ MGNX opened at $4.04 on Monday. The company has a market cap of $256.78 million, a P/E ratio of -3.67 and a beta of 1.20. The stock has a 50-day moving average of $4.23 and a two-hundred day moving average of $3.30. MacroGenics has a 1-year low of $1.29 and a 1-year high of $5.08.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.01). The business had revenue of $20.77 million for the quarter, compared to analyst estimates of $15.24 million. MacroGenics had a negative return on equity of 147.80% and a negative net margin of 44.79%. On average, analysts anticipate that MacroGenics will post -1.76 EPS for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of MacroGenics by 64.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 755,245 shares of the biopharmaceutical company’s stock worth $1,269,000 after purchasing an additional 295,108 shares during the last quarter. GSA Capital Partners LLP increased its holdings in MacroGenics by 740.5% in the fourth quarter. GSA Capital Partners LLP now owns 511,004 shares of the biopharmaceutical company’s stock valued at $823,000 after buying an additional 450,203 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in MacroGenics in the fourth quarter valued at $2,964,000. Armistice Capital LLC raised its stake in MacroGenics by 6.1% in the fourth quarter. Armistice Capital LLC now owns 6,324,000 shares of the biopharmaceutical company’s stock valued at $10,182,000 after buying an additional 364,000 shares in the last quarter. Finally, Seven Fleet Capital Management LP purchased a new stake in MacroGenics during the 1st quarter worth about $39,000. 96.89% of the stock is owned by hedge funds and other institutional investors.

MacroGenics Company Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.