MacroGenics, Inc. (NASDAQ:MGNX) Given Consensus Rating of “Hold” by Analysts

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been given a consensus rating of “Hold” by the eleven analysts that are currently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $8.11.

Several brokerages have weighed in on MGNX. 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. HC Wainwright reiterated a “neutral” rating and issued a $4.00 target price on shares of MacroGenics in a research note on Wednesday, September 18th. BTIG Research lowered MacroGenics from a “buy” rating to a “neutral” rating in a research note on Thursday, August 1st. BMO Capital Markets dropped 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 note on Wednesday, August 7th. Finally, Guggenheim cut shares of MacroGenics from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 31st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC acquired a new stake in MacroGenics during the 1st quarter valued at $40,000. CANADA LIFE ASSURANCE Co acquired a new stake in shares of MacroGenics during the first quarter valued at about $52,000. SG Americas Securities LLC purchased a new stake in shares of MacroGenics during the third quarter worth about $55,000. DRW Securities LLC acquired a new position in shares of MacroGenics in the second quarter worth about $56,000. Finally, K2 Principal Fund L.P. acquired a new position in shares of MacroGenics in the second quarter worth about $63,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Price Performance

Shares of NASDAQ:MGNX opened at $3.59 on Tuesday. The company has a market capitalization of $224.85 million, a P/E ratio of -9.21 and a beta of 2.08. MacroGenics has a 52-week low of $2.95 and a 52-week high of $21.88. The stock’s fifty day simple moving average is $3.48 and its 200-day simple moving average is $6.93.

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

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.