MacroGenics, Inc. (NASDAQ:MGNX) Receives $5.50 Consensus Price Target from Brokerages

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $5.50.

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of MacroGenics in a research note on Friday, May 8th. Barclays raised their target price on MacroGenics from $4.00 to $6.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Finally, B. Riley Financial upgraded shares of MacroGenics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $3.00 to $9.00 in a research note on Friday, April 10th.

MacroGenics Stock Performance

Shares of NASDAQ:MGNX opened at $4.32 on Thursday. The business has a 50-day simple moving average of $4.23 and a two-hundred day simple moving average of $3.04. The firm has a market cap of $274.58 million, a price-to-earnings ratio of -3.93 and a beta of 1.18. MacroGenics has a fifty-two week low of $1.29 and a fifty-two week high of $5.08.

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

Institutional Trading of MacroGenics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Armistice Capital LLC boosted its stake in shares of MacroGenics by 6.1% during the 4th quarter. Armistice Capital LLC now owns 6,324,000 shares of the biopharmaceutical company’s stock worth $10,182,000 after acquiring an additional 364,000 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of MacroGenics by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,224,234 shares of the biopharmaceutical company’s stock worth $7,097,000 after purchasing an additional 11,120 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of MacroGenics by 1.9% in the 1st quarter. Renaissance Technologies LLC now owns 2,963,559 shares of the biopharmaceutical company’s stock worth $8,565,000 after purchasing an additional 54,928 shares in the last quarter. Bank of America Corp DE increased its stake in shares of MacroGenics by 30.7% in the 1st quarter. Bank of America Corp DE now owns 2,401,814 shares of the biopharmaceutical company’s stock worth $6,941,000 after purchasing an additional 564,094 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in MacroGenics by 5.0% in the 3rd quarter. Millennium Management LLC now owns 2,116,870 shares of the biopharmaceutical company’s stock worth $3,556,000 after purchasing an additional 101,006 shares during the period. 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.