MacroGenics (NASDAQ:MGNX) Rating Reiterated by HC Wainwright

MacroGenics (NASDAQ:MGNX)‘s stock had its “neutral” rating reaffirmed by equities researchers at HC Wainwright in a report issued on Wednesday, Benzinga reports. They presently have a $4.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 17.99% from the stock’s current price.

A number of other research analysts have also commented on the stock. Citigroup reduced their price target on shares of MacroGenics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Barclays reduced their price target on shares of MacroGenics from $14.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, July 29th. Evercore ISI upgraded shares of MacroGenics to a “strong-buy” rating in a research report on Monday. B. Riley downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $5.00 in a report on Wednesday, July 31st. Finally, 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 report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.11.

MacroGenics Trading Up 2.7 %

MacroGenics stock opened at $3.39 on Wednesday. MacroGenics has a 1-year low of $3.14 and a 1-year high of $21.88. The firm has a market capitalization of $212.33 million, a price-to-earnings ratio of -8.69 and a beta of 2.09. The firm has a 50 day simple moving average of $3.96 and a 200 day simple moving average of $8.30.

MacroGenics (NASDAQ:MGNX) last released 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). The business 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, equities research analysts forecast that MacroGenics will post -1.72 EPS for the current year.

Institutional Trading of MacroGenics

Hedge funds have recently added to or reduced their stakes in the business. EntryPoint Capital LLC bought a new stake in MacroGenics in the first quarter worth $40,000. CANADA LIFE ASSURANCE Co bought a new stake in MacroGenics in the first quarter worth $52,000. Sound Income Strategies LLC bought a new stake in MacroGenics in the first quarter worth $77,000. China Universal Asset Management Co. Ltd. raised its stake in shares of MacroGenics by 66.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,935 shares of the biopharmaceutical company’s stock valued at $176,000 after acquiring an additional 4,761 shares during the last quarter. Finally, DRW Securities LLC bought a new position in shares of MacroGenics during the second quarter valued at about $56,000. 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.