MacroGenics, Inc. (NASDAQ:MGNX) Receives $7.63 Consensus Target Price from Brokerages

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have earned an average recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $7.63.

Separately, StockNews.com downgraded shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Friday.

MacroGenics Stock Down 4.8 %

Shares of MacroGenics stock opened at $2.00 on Friday. The business has a 50-day moving average price of $2.66 and a 200 day moving average price of $3.22. MacroGenics has a fifty-two week low of $1.89 and a fifty-two week high of $19.54. The firm has a market cap of $125.53 million, a P/E ratio of -1.27 and a beta of 2.12.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. The firm had revenue of $49.40 million during the quarter, compared to the consensus estimate of $34.17 million. As a group, equities research analysts anticipate that MacroGenics will post -1.06 earnings per share for the current year.

Institutional Investors Weigh In On MacroGenics

A number of hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. increased its position in MacroGenics by 39.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 661,914 shares of the biopharmaceutical company’s stock valued at $2,178,000 after acquiring an additional 186,858 shares during the period. Intech Investment Management LLC acquired a new position in shares of MacroGenics during the third quarter valued at $68,000. FMR LLC raised its stake in shares of MacroGenics by 1,230.1% during the third quarter. FMR LLC now owns 137,215 shares of the biopharmaceutical company’s stock valued at $451,000 after purchasing an additional 126,899 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in MacroGenics by 374.4% in the third quarter. BNP Paribas Financial Markets now owns 90,779 shares of the biopharmaceutical company’s stock worth $299,000 after purchasing an additional 71,643 shares during the period. Finally, Vestal Point Capital LP grew its position in MacroGenics by 3.8% in the 3rd quarter. Vestal Point Capital LP now owns 830,000 shares of the biopharmaceutical company’s stock valued at $2,731,000 after buying an additional 30,000 shares in the last quarter. Institutional investors own 96.89% of the company’s stock.

MacroGenics Company Profile

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.