MacroGenics (NASDAQ:MGNX) Rating Reiterated by HC Wainwright

MacroGenics (NASDAQ:MGNX)‘s stock had its “neutral” rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $4.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 6.38% from the company’s current price.

A number of other analysts have also weighed in on MGNX. Barclays reduced their price target on shares of MacroGenics from $14.00 to $9.00 and set an “overweight” rating for the company in a research note on Monday. BTIG Research cut MacroGenics from a “buy” rating to a “neutral” rating in a research report on Thursday. TD Cowen lowered MacroGenics from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Stifel Nicolaus lowered MacroGenics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $29.00 to $7.00 in a report on Friday, May 10th. Finally, JMP Securities reduced their price objective on shares of MacroGenics from $16.00 to $8.00 and set a “market outperform” rating for the company in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.33.

MacroGenics Stock Down 28.4 %

MGNX stock opened at $3.76 on Thursday. MacroGenics has a fifty-two week low of $3.14 and a fifty-two week high of $21.88. The stock has a market cap of $235.49 million, a PE ratio of -9.64 and a beta of 2.08. The firm’s 50-day simple moving average is $4.60 and its 200 day simple moving average is $11.27.

MacroGenics (NASDAQ:MGNX) last released 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). MacroGenics had a negative return on equity of 98.01% and a negative net margin of 53.60%. The business had revenue of $9.10 million during the quarter, compared to the consensus estimate of $13.63 million. Equities analysts forecast that MacroGenics will post -3.04 EPS for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

Several hedge funds have recently made changes to their positions in MGNX. Vanguard Group Inc. grew its position in MacroGenics by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,414,924 shares of the biopharmaceutical company’s stock worth $20,574,000 after purchasing an additional 36,396 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of MacroGenics by 36.9% in the fourth quarter. SG Americas Securities LLC now owns 28,589 shares of the biopharmaceutical company’s stock worth $275,000 after buying an additional 7,712 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of 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 valued at $69,000 after buying an additional 5,577 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in 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 valued at $475,000 after buying an additional 3,319 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in MacroGenics by 64.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 40,834 shares of the biopharmaceutical company’s stock worth $393,000 after acquiring an additional 15,994 shares in the last quarter. Hedge funds and other 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.