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

MacroGenics, Inc. (NASDAQ:MGNX) has been assigned an average rating of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $7.63.

A number of equities research analysts have issued reports on the company. Guggenheim cut MacroGenics from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 31st. Evercore ISI upgraded shares of MacroGenics to a “strong-buy” rating in a research report on Monday, September 16th. B. Riley cut MacroGenics from a “buy” rating to a “neutral” rating and cut their price target for the company from $18.00 to $5.00 in a report on Wednesday, July 31st. BTIG Research lowered MacroGenics from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. Finally, HC Wainwright reiterated a “neutral” rating and set a $4.00 price target on shares of MacroGenics in a research report on Wednesday, November 6th.

Institutional Trading of MacroGenics

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGNX. Barclays PLC grew its holdings in shares of MacroGenics by 97.1% in the 3rd quarter. Barclays PLC now owns 98,753 shares of the biopharmaceutical company’s stock worth $325,000 after acquiring an additional 48,639 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of MacroGenics during the third quarter valued at $37,000. Wellington Management Group LLP raised its position in MacroGenics by 15.7% during the third quarter. Wellington Management Group LLP now owns 307,140 shares of the biopharmaceutical company’s stock valued at $1,010,000 after buying an additional 41,733 shares during the period. Stifel Financial Corp lifted its position in shares of MacroGenics by 19.7% in 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 in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of MacroGenics by 35.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 566,328 shares of the biopharmaceutical company’s stock worth $1,863,000 after purchasing an additional 147,438 shares during the period. 96.89% of the stock is owned by institutional investors and hedge funds.

MacroGenics Trading Up 0.9 %

Shares of MacroGenics stock opened at $3.24 on Wednesday. The stock has a market capitalization of $203.34 million, a price-to-earnings ratio of -2.05 and a beta of 2.08. MacroGenics has a twelve month low of $2.95 and a twelve month high of $21.88. The business’s 50 day simple moving average is $3.65 and its 200-day simple moving average is $4.31.

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.