MacroGenics (MGNX) Receives $31.50 Consensus Price Target from Analysts

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MacroGenics (NASDAQ:MGNX) has been assigned an average rating of “Buy” from the fifteen research firms that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $31.50.

A number of research analysts have commented on the stock. BidaskClub upgraded shares of MacroGenics from a “hold” rating to a “buy” rating in a research note on Thursday, March 8th. Morgan Stanley restated an “equal weight” rating and set a $26.00 price target (up previously from $18.00) on shares of MacroGenics in a research note on Wednesday, March 14th. HC Wainwright assumed coverage on shares of MacroGenics in a research note on Monday, March 5th. They set a “buy” rating and a $38.00 price target for the company. ValuEngine upgraded shares of MacroGenics from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Finally, TheStreet upgraded shares of MacroGenics from a “d” rating to a “c+” rating in a research note on Tuesday, March 27th.

Shares of MacroGenics opened at $22.49 on Thursday, according to Marketbeat Ratings. The stock has a market cap of $949.12 million, a price-to-earnings ratio of -41.65 and a beta of 2.45. MacroGenics has a 12 month low of $14.36 and a 12 month high of $32.74.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings results on Monday, May 7th. The biopharmaceutical company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.26). The business had revenue of $4.70 million for the quarter, compared to the consensus estimate of $7.46 million. MacroGenics had a negative return on equity of 13.03% and a negative net margin of 19.64%. equities analysts expect that MacroGenics will post -4.78 EPS for the current year.

Several large investors have recently bought and sold shares of the company. Prosight Management LP acquired a new stake in shares of MacroGenics in the fourth quarter valued at approximately $11,546,000. Millennium Management LLC increased its holdings in shares of MacroGenics by 86.2% in the first quarter. Millennium Management LLC now owns 897,982 shares of the biopharmaceutical company’s stock valued at $22,593,000 after purchasing an additional 415,681 shares in the last quarter. OppenheimerFunds Inc. increased its holdings in shares of MacroGenics by 10.8% in the fourth quarter. OppenheimerFunds Inc. now owns 3,933,906 shares of the biopharmaceutical company’s stock valued at $74,744,000 after purchasing an additional 384,861 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of MacroGenics in the first quarter valued at approximately $4,443,000. Finally, Renaissance Technologies LLC increased its holdings in shares of MacroGenics by 55.2% in the fourth quarter. Renaissance Technologies LLC now owns 300,523 shares of the biopharmaceutical company’s stock valued at $5,710,000 after purchasing an additional 106,900 shares in the last quarter. Institutional investors own 89.43% of the company’s stock.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, focuses on the discovery and development of antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, as well as various autoimmune disorders and infectious diseases in the United States. The company's advanced clinical product candidate is Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets human epidermal growth factor receptor 2-expressing tumors, such as various breast and gastroesophageal cancers.

Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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