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

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been assigned a consensus rating of “Hold” from the eleven research firms that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $8.11.

A number of brokerages have weighed in on MGNX. Citigroup cut their target price on shares of MacroGenics from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. HC Wainwright reissued a “neutral” rating and set a $4.00 price objective on shares of MacroGenics in a report on Wednesday, September 18th. BTIG Research cut MacroGenics from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. Evercore ISI raised MacroGenics to a “strong-buy” rating in a research note on Monday, September 16th. Finally, B. Riley downgraded MacroGenics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $18.00 to $5.00 in a research note on Wednesday, July 31st.

MacroGenics Stock Up 3.1 %

Shares of MGNX stock opened at $3.29 on Tuesday. The business has a fifty day simple moving average of $3.67 and a 200 day simple moving average of $7.36. The company has a market cap of $206.06 million, a P/E ratio of -8.44 and a beta of 2.09. MacroGenics has a twelve month low of $2.95 and a twelve month high of $21.88.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Avoro Capital Advisors LLC bought a new stake in shares of MacroGenics during the 1st quarter valued at about $90,528,000. Armistice Capital LLC boosted its stake in MacroGenics by 150.0% during the second quarter. Armistice Capital LLC now owns 6,000,000 shares of the biopharmaceutical company’s stock worth $25,500,000 after acquiring an additional 3,600,000 shares in the last quarter. Millennium Management LLC grew its holdings in MacroGenics by 3,473.7% in the second quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock worth $14,079,000 after purchasing an additional 3,219,977 shares during the period. Price T Rowe Associates Inc. MD increased its stake in MacroGenics by 8,361.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,438,050 shares of the biopharmaceutical company’s stock valued at $35,889,000 after purchasing an additional 2,409,237 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of MacroGenics by 1,689.3% during the second quarter. Marshall Wace LLP now owns 658,007 shares of the biopharmaceutical company’s stock valued at $2,797,000 after purchasing an additional 621,232 shares during the period. Institutional investors and hedge funds own 96.89% of the company’s stock.

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.