MacroGenics, Inc. (NASDAQ:MGNX) Receives Average Recommendation of “Hold” from Analysts

MacroGenics, Inc. (NASDAQ:MGNX) has been given a consensus rating of “Hold” by the eleven research firms that are currently covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $7.63.

Several brokerages have recently issued reports on MGNX. HC Wainwright reiterated a “neutral” rating and issued a $4.00 price objective on shares of MacroGenics in a research note on Wednesday, November 6th. StockNews.com upgraded shares of MacroGenics from a “sell” rating to a “buy” rating in a report on Sunday, November 10th. Finally, JMP Securities downgraded shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of MacroGenics by 39.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 661,914 shares of the biopharmaceutical company’s stock worth $2,178,000 after acquiring an additional 186,858 shares during the last quarter. Barclays PLC grew its position in MacroGenics by 97.1% during the 3rd quarter. Barclays PLC now owns 98,753 shares of the biopharmaceutical company’s stock worth $325,000 after purchasing an additional 48,639 shares during the last quarter. Millennium Management LLC increased its stake in MacroGenics by 3,473.7% in the second quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock valued at $14,079,000 after purchasing an additional 3,219,977 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of MacroGenics by 35.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 566,328 shares of the biopharmaceutical company’s stock valued at $1,863,000 after buying an additional 147,438 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of MacroGenics by 19.7% during the third quarter. Stifel Financial Corp now owns 39,888 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 6,578 shares during the period. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Price Performance

Shares of NASDAQ:MGNX opened at $2.60 on Monday. The firm has a market capitalization of $163.18 million, a PE ratio of -1.65 and a beta of 2.02. MacroGenics has a 1 year low of $2.59 and a 1 year high of $21.88. The firm’s 50-day moving average is $3.21 and its two-hundred day moving average is $3.50.

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.