MacroGenics (NASDAQ:MGNX) Stock Rating Reaffirmed by HC Wainwright

MacroGenics (NASDAQ:MGNX)‘s stock had its “neutral” rating reiterated by analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $4.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target would suggest a potential upside of 20.12% from the company’s current price.

Several other brokerages have also recently issued reports on MGNX. JMP Securities dropped their target price on MacroGenics from $16.00 to $8.00 and set a “market outperform” rating for the company in a report on Wednesday, July 31st. Citigroup cut their price objective on shares of MacroGenics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. TD Cowen downgraded shares of MacroGenics from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Barclays dropped 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, July 29th. Finally, B. Riley lowered shares of MacroGenics from a “buy” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $5.00 in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, MacroGenics currently has an average rating of “Hold” and an average price target of $8.11.

MacroGenics Trading Down 7.5 %

NASDAQ:MGNX opened at $3.33 on Wednesday. The company has a market cap of $208.57 million, a P/E ratio of -8.72 and a beta of 2.09. MacroGenics has a twelve month low of $3.14 and a twelve month high of $21.88. The company’s 50-day moving average price is $4.28 and its 200-day moving average price is $10.26.

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

Institutional Investors Weigh In On MacroGenics

Institutional investors and hedge funds have recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in MacroGenics in the 1st quarter valued at about $40,000. CANADA LIFE ASSURANCE Co acquired a new position in shares of MacroGenics in the first quarter valued at approximately $52,000. Sound Income Strategies LLC purchased a new stake in MacroGenics during the 1st quarter worth approximately $77,000. AJOVista LLC acquired a new stake in MacroGenics during the 4th quarter worth approximately $51,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in MacroGenics by 66.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,935 shares of the biopharmaceutical company’s stock worth $176,000 after buying an additional 4,761 shares in the last quarter. Hedge funds and other 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.