MacroGenics, Inc. (NASDAQ:MGNX) Receives $7.63 Consensus Target Price from Brokerages

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have earned a consensus rating of “Hold” from the eleven analysts that are covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $7.63.

A number of analysts recently issued reports on the stock. HC Wainwright reissued a “neutral” rating and set a $4.00 price target on shares of MacroGenics in a report on Wednesday, November 6th. StockNews.com upgraded shares of MacroGenics from a “sell” rating to a “buy” rating in a research report on Sunday, November 10th. Evercore ISI upgraded MacroGenics to a “strong-buy” rating in a research note on Monday, September 16th. Finally, JMP Securities lowered MacroGenics from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MGNX. Principal Financial Group Inc. grew its stake in shares of MacroGenics by 1.1% in the second quarter. Principal Financial Group Inc. now owns 348,421 shares of the biopharmaceutical company’s stock valued at $1,481,000 after buying an additional 3,818 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in MacroGenics by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company’s stock valued at $40,000 after acquiring an additional 4,707 shares in the last quarter. Stifel Financial Corp increased its stake in MacroGenics by 19.7% during the third quarter. Stifel Financial Corp now owns 39,888 shares of the biopharmaceutical company’s stock worth $131,000 after purchasing an additional 6,578 shares during the period. XML Financial LLC lifted its position in shares of MacroGenics by 66.0% during the third quarter. XML Financial LLC now owns 17,600 shares of the biopharmaceutical company’s stock worth $58,000 after purchasing an additional 7,000 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of MacroGenics during the third quarter worth about $37,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Stock Performance

NASDAQ MGNX opened at $3.18 on Thursday. The stock has a 50-day simple moving average of $3.49 and a two-hundred day simple moving average of $3.73. The firm has a market capitalization of $199.59 million, a P/E ratio of -2.01 and a beta of 2.04. MacroGenics has a fifty-two week low of $2.95 and a fifty-two week high of $21.88.

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.