MacroGenics, Inc. (NASDAQ:MGNX) Receives $7.38 Consensus Price Target from Analysts

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been assigned an average recommendation of “Hold” from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $7.38.

A number of brokerages recently commented on MGNX. StockNews.com cut shares of MacroGenics from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. HC Wainwright dropped their price objective on shares of MacroGenics from $4.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MGNX. Wasatch Advisors LP boosted its holdings in shares of MacroGenics by 37.6% during the fourth quarter. Wasatch Advisors LP now owns 3,488,493 shares of the biopharmaceutical company’s stock worth $11,338,000 after purchasing an additional 952,691 shares during the last quarter. Frazier Life Sciences Management L.P. boosted its stake in MacroGenics by 5.5% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,175,665 shares of the biopharmaceutical company’s stock worth $10,321,000 after buying an additional 164,938 shares during the last quarter. Geode Capital Management LLC grew its holdings in MacroGenics by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 1,433,217 shares of the biopharmaceutical company’s stock valued at $4,659,000 after buying an additional 26,341 shares during the period. Two Sigma Advisers LP increased its stake in shares of MacroGenics by 7.1% during the 4th quarter. Two Sigma Advisers LP now owns 1,118,600 shares of the biopharmaceutical company’s stock valued at $3,635,000 after acquiring an additional 74,596 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of MacroGenics during the 4th quarter worth about $2,787,000. 96.89% of the stock is currently owned by institutional investors and hedge funds.

MacroGenics Trading Up 6.8 %

Shares of MacroGenics stock opened at $1.26 on Tuesday. The company has a 50-day moving average of $1.94 and a two-hundred day moving average of $2.93. The stock has a market cap of $79.49 million, a PE ratio of -0.80 and a beta of 2.23. MacroGenics has a 12-month low of $0.99 and a 12-month high of $16.59.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $49.40 million for the quarter, compared to analyst estimates of $34.17 million. MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. On average, sell-side analysts forecast that MacroGenics will post -1.06 EPS for the current fiscal year.

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.