MacroGenics (NASDAQ:MGNX) Price Target Lowered to $14.00 at Citigroup

MacroGenics (NASDAQ:MGNX) had its target price cut by Citigroup from $16.00 to $14.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other analysts have also recently weighed in on MGNX. HC Wainwright reissued a neutral rating and set a $4.00 price objective on shares of MacroGenics in a research report on Thursday, August 1st. JMP Securities reduced their price target on shares of MacroGenics from $16.00 to $8.00 and set a market outperform rating on the stock in a research report on Wednesday, July 31st. TD Cowen lowered shares of MacroGenics from a buy rating to a hold rating in a report on Friday, May 10th. B. Riley cut MacroGenics from a buy rating to a neutral rating and cut their price objective for the company from $18.00 to $5.00 in a research report on Wednesday, July 31st. Finally, StockNews.com lowered MacroGenics from a hold rating to a sell rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $8.11.

MacroGenics Trading Down 0.9 %

MacroGenics stock opened at $3.23 on Thursday. MacroGenics has a 1-year low of $3.14 and a 1-year high of $21.88. The firm has a market cap of $202.30 million, a P/E ratio of -8.28 and a beta of 2.09. The firm has a 50-day moving average of $4.36 and a 200-day moving average of $10.47.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.42). MacroGenics had a negative return on equity of 98.01% and a negative net margin of 53.60%. The business had revenue of $10.80 million during the quarter, compared to analysts’ expectations of $24.14 million. Research analysts forecast that MacroGenics will post -2.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

A number of institutional investors have recently modified their holdings of MGNX. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of MacroGenics by 7.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,337 shares of the biopharmaceutical company’s stock worth $475,000 after buying an additional 3,319 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in MacroGenics by 64.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 40,834 shares of the biopharmaceutical company’s stock worth $393,000 after purchasing an additional 15,994 shares during the last quarter. Natixis Advisors L.P. bought a new stake in MacroGenics in the 4th quarter worth approximately $297,000. AJOVista LLC purchased a new stake in MacroGenics during the 4th quarter valued at $51,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of MacroGenics by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 833,500 shares of the biopharmaceutical company’s stock valued at $8,018,000 after buying an additional 8,111 shares during the period. 96.89% of the stock is owned by hedge funds and other institutional investors.

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.