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

MacroGenics, Inc. (NASDAQ:MGNX) has been given a consensus rating of “Hold” by the ten analysts that are currently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $5.71.

MGNX has been the subject of several recent analyst reports. HC Wainwright cut their price objective on MacroGenics from $4.00 to $2.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th. Stifel Nicolaus dropped their target price on shares of MacroGenics from $6.00 to $5.00 and set a “hold” rating for the company in a research report on Wednesday, May 14th. B. Riley decreased their price target on shares of MacroGenics from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, May 20th. Barclays restated an “overweight” rating and set a $3.00 price objective (down previously from $8.00) on shares of MacroGenics in a research report on Wednesday, May 14th. Finally, Wall Street Zen downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Friday, June 27th.

Hedge Funds Weigh In On MacroGenics

Institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in MacroGenics by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,185 shares of the biopharmaceutical company’s stock worth $1,713,000 after purchasing an additional 34,420 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of MacroGenics by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 323,857 shares of the biopharmaceutical company’s stock valued at $1,053,000 after acquiring an additional 16,717 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of MacroGenics in the 4th quarter valued at about $32,000. JPMorgan Chase & Co. boosted its holdings in MacroGenics by 68.3% during the 4th quarter. JPMorgan Chase & Co. now owns 546,807 shares of the biopharmaceutical company’s stock valued at $1,777,000 after acquiring an additional 221,905 shares during the period. Finally, Wells Fargo & Company MN grew its position in MacroGenics by 45.4% during the 4th quarter. Wells Fargo & Company MN now owns 29,838 shares of the biopharmaceutical company’s stock worth $97,000 after acquiring an additional 9,312 shares during the last quarter. Institutional investors own 96.89% of the company’s stock.

MacroGenics Stock Performance

MacroGenics stock opened at $1.44 on Friday. MacroGenics has a fifty-two week low of $0.99 and a fifty-two week high of $5.77. The stock has a market cap of $90.85 million, a P/E ratio of -1.62 and a beta of 1.59. The firm’s fifty day moving average price is $1.50 and its 200-day moving average price is $2.10.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.04). The business had revenue of $13.19 million for the quarter, compared to analysts’ expectations of $9.59 million. MacroGenics had a negative return on equity of 59.84% and a negative net margin of 36.23%. Sell-side analysts predict that MacroGenics will post -1.06 earnings per share for the current year.

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.