MacroGenics’ (MGNX) Neutral Rating Reiterated at HC Wainwright

MacroGenics (NASDAQ:MGNX)‘s stock had its “neutral” rating reiterated by analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They presently have a $4.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential downside of 10.31% from the stock’s previous close. HC Wainwright also issued estimates for MacroGenics’ Q4 2024 earnings at ($0.12) EPS, FY2024 earnings at ($0.95) EPS, Q1 2025 earnings at ($0.70) EPS, Q2 2025 earnings at ($0.72) EPS, Q3 2025 earnings at ($0.74) EPS, Q4 2025 earnings at ($0.76) EPS and FY2025 earnings at ($2.92) EPS.

Other research analysts have also issued research reports about the stock. Evercore ISI raised shares of MacroGenics to a “strong-buy” rating in a research report on Monday, September 16th. StockNews.com downgraded MacroGenics from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. BTIG Research lowered MacroGenics from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. Citigroup cut their price target on MacroGenics from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, JMP Securities lowered their price objective on shares of MacroGenics from $16.00 to $8.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.63.

MacroGenics Stock Performance

MGNX opened at $4.46 on Wednesday. MacroGenics has a twelve month low of $2.95 and a twelve month high of $21.88. The business has a 50 day moving average price of $3.59 and a 200 day moving average price of $5.11. The firm has a market cap of $279.73 million, a P/E ratio of -2.03 and a beta of 2.08.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data 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). MacroGenics had a negative return on equity of 146.01% and a negative net margin of 332.47%. The firm had revenue of $10.80 million during the quarter, compared to analyst estimates of $24.14 million. As a group, analysts anticipate that MacroGenics will post -1.72 earnings per share for the current fiscal year.

Institutional Trading of MacroGenics

Several institutional investors have recently made changes to their positions in MGNX. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of MacroGenics by 15.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,060 shares of the biopharmaceutical company’s stock worth $840,000 after buying an additional 7,723 shares during the period. Swiss National Bank bought a new stake in shares of MacroGenics in the 1st quarter worth about $1,351,000. Susquehanna Fundamental Investments LLC increased its position in shares of MacroGenics by 597.4% during the 1st quarter. Susquehanna Fundamental Investments LLC now owns 105,787 shares of the biopharmaceutical company’s stock worth $1,557,000 after purchasing an additional 90,619 shares in the last quarter. ProShare Advisors LLC boosted its position in MacroGenics by 8.9% in the first quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock valued at $225,000 after buying an additional 1,246 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co bought a new stake in MacroGenics during the first quarter worth about $52,000. 96.89% of the stock is currently owned by institutional investors and hedge funds.

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.