MacroGenics, Inc. (NASDAQ:MGNX) Receives Average Recommendation of “Hold” from Analysts

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have received an average rating of “Hold” from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $8.11.

Several brokerages have weighed in on MGNX. JMP Securities cut their price target on MacroGenics from $16.00 to $8.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 31st. BMO Capital Markets dropped their price objective on MacroGenics from $8.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Citigroup dropped their price objective on MacroGenics from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Barclays dropped their price objective on MacroGenics from $14.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $4.00 price objective on shares of MacroGenics in a report on Wednesday, September 18th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MGNX. Diversified Trust Co grew its stake in shares of MacroGenics by 16.0% in the 1st quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock valued at $201,000 after purchasing an additional 1,880 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of MacroGenics by 28.6% in the first quarter. Principal Financial Group Inc. now owns 344,603 shares of the biopharmaceutical company’s stock valued at $5,073,000 after buying an additional 76,727 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of MacroGenics by 15.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,060 shares of the biopharmaceutical company’s stock valued at $840,000 after buying an additional 7,723 shares in the last quarter. Swiss National Bank purchased a new stake in shares of MacroGenics in the first quarter valued at approximately $1,351,000. Finally, Susquehanna Fundamental Investments LLC boosted its stake in shares of MacroGenics by 597.4% in the first quarter. Susquehanna Fundamental Investments LLC now owns 105,787 shares of the biopharmaceutical company’s stock valued at $1,557,000 after buying an additional 90,619 shares in the last quarter. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

MacroGenics Trading Up 1.8 %

MGNX stock opened at $3.40 on Friday. The company has a market capitalization of $212.95 million, a PE ratio of -8.72 and a beta of 2.08. MacroGenics has a 12-month low of $2.95 and a 12-month high of $21.88. The business’s fifty day moving average price is $3.53 and its 200 day moving average price is $5.55.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results 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 146.01% and a negative net margin of 332.47%. The company had revenue of $10.80 million for the quarter, compared to analysts’ expectations of $24.14 million. Research analysts predict that MacroGenics will post -1.72 EPS for the current fiscal year.

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.