MacroGenics’ (MGNX) “Neutral” Rating Reaffirmed at HC Wainwright

MacroGenics (NASDAQ:MGNX)‘s stock had its “neutral” rating reissued by stock analysts at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They presently have a $4.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 18.87% from the stock’s current price.

MGNX has been the subject of a number of other reports. BMO Capital Markets reduced their price objective on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. BTIG Research lowered shares of MacroGenics from a “buy” rating to a “neutral” rating in a research note on Thursday, August 1st. StockNews.com cut MacroGenics from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Barclays reduced their price objective 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, Evercore ISI raised shares of MacroGenics to a “strong-buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.11.

MacroGenics Stock Performance

MGNX stock opened at $3.37 on Wednesday. The company has a fifty day moving average price of $4.00 and a 200-day moving average price of $8.45. MacroGenics has a 52-week low of $3.14 and a 52-week high of $21.88. The company has a market capitalization of $210.76 million, a P/E ratio of -8.63 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.42). MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. The firm had revenue of $10.80 million for the quarter, compared to the consensus estimate of $24.14 million. As a group, sell-side analysts forecast that MacroGenics will post -1.72 earnings per share for the current fiscal year.

Institutional Trading of MacroGenics

Several large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of MacroGenics by 1.0% in 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 purchasing an additional 8,111 shares during the period. BNP Paribas Financial Markets grew its position in shares of MacroGenics by 144.5% in the 4th quarter. BNP Paribas Financial Markets now owns 42,109 shares of the biopharmaceutical company’s stock worth $405,000 after buying an additional 24,883 shares during the period. Jump Financial LLC purchased a new position in MacroGenics during the 4th quarter valued at about $135,000. Dynamic Technology Lab Private Ltd purchased a new position in MacroGenics during the 4th quarter valued at about $182,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in MacroGenics during the fourth quarter worth about $895,000. 96.89% of the stock is owned by institutional investors.

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.