MacroGenics (NASDAQ:MGNX) PT Lowered to $9.00 at Barclays

MacroGenics (NASDAQ:MGNX) had its price objective cut by equities researchers at Barclays from $14.00 to $9.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays‘s price target would indicate a potential upside of 65.14% from the company’s previous close.

MGNX has been the topic of several other reports. JMP Securities reduced their target price on MacroGenics from $22.00 to $16.00 and set a “market outperform” rating on the stock in a report on Friday, May 10th. Stifel Nicolaus cut MacroGenics from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $29.00 to $7.00 in a research note on Friday, May 10th. BTIG Research reduced their price objective on MacroGenics from $24.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. TD Cowen cut MacroGenics from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Finally, HC Wainwright reduced their price objective on MacroGenics from $16.00 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.44.

MacroGenics Stock Down 1.8 %

NASDAQ:MGNX traded down $0.10 on Monday, reaching $5.45. 180,282 shares of the company’s stock traded hands, compared to its average volume of 1,836,536. MacroGenics has a 12 month low of $3.14 and a 12 month high of $21.88. The stock has a 50-day simple moving average of $4.56 and a 200-day simple moving average of $11.34. The firm has a market cap of $341.33 million, a PE ratio of -13.95 and a beta of 2.08.

MacroGenics (NASDAQ:MGNX) last issued its 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). MacroGenics had a negative return on equity of 98.01% and a negative net margin of 53.60%. The firm had revenue of $9.10 million during the quarter, compared to the consensus estimate of $13.63 million. On average, equities analysts anticipate that MacroGenics will post -3.04 earnings per share for the current year.

Hedge Funds Weigh In On MacroGenics

A number of large investors have recently bought and sold shares of the business. ProShare Advisors LLC raised its stake in MacroGenics by 8.9% in the first quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock worth $225,000 after buying an additional 1,246 shares in the last quarter. Diversified Trust Co increased its position in shares of MacroGenics by 16.0% during the first quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock worth $201,000 after purchasing an additional 1,880 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of MacroGenics during the first quarter worth $40,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of MacroGenics by 7.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,337 shares of the biopharmaceutical company’s stock worth $475,000 after purchasing an additional 3,319 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co acquired a new position in shares of MacroGenics during the first quarter worth $52,000. Institutional investors own 96.89% of the company’s stock.

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.