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

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $12.00.

Several research analysts have recently commented on the stock. HC Wainwright decreased their price target on shares of MacroGenics from $16.00 to $4.00 and set a “neutral” rating for the company in a report on Monday, May 13th. Stifel Nicolaus lowered MacroGenics from a “buy” rating to a “hold” rating and lowered their target price for the company from $29.00 to $7.00 in a report on Friday, May 10th. BTIG Research cut their price target on MacroGenics from $24.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, May 24th. TD Cowen downgraded MacroGenics from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Finally, B. Riley started coverage on MacroGenics in a research note on Friday, April 26th. They issued a “buy” rating and a $25.00 target price on the stock.

Institutional Investors Weigh In On MacroGenics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC acquired a new position in MacroGenics during the 1st quarter valued at about $40,000. AJOVista LLC acquired a new position in shares of MacroGenics during the fourth quarter valued at approximately $51,000. CANADA LIFE ASSURANCE Co acquired a new position in shares of MacroGenics during the first quarter valued at approximately $52,000. China Universal Asset Management Co. Ltd. raised its holdings in MacroGenics by 349.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 5,577 shares in the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in MacroGenics in the first quarter worth approximately $77,000. 96.89% of the stock is currently owned by institutional investors.

MacroGenics Stock Up 8.5 %

Shares of NASDAQ MGNX opened at $5.34 on Thursday. The stock’s 50 day moving average price is $4.50 and its two-hundred day moving average price is $11.48. MacroGenics has a 52-week low of $3.14 and a 52-week high of $21.88. The stock has a market capitalization of $334.46 million, a P/E ratio of -13.69 and a beta of 2.08.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.17). The firm had revenue of $9.10 million for the quarter, compared to analyst estimates of $13.63 million. MacroGenics had a negative net margin of 53.60% and a negative return on equity of 98.01%. On average, analysts anticipate that MacroGenics will post -3.04 EPS for the current 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.