MacroGenics (NASDAQ:MGNX) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reiterated their neutral rating on shares of MacroGenics (NASDAQ:MGNX) in a report released on Wednesday morning, Benzinga reports. They currently have a $4.00 price objective on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for MacroGenics’ Q3 2024 earnings at $0.81 EPS, Q4 2024 earnings at ($0.81) EPS, FY2024 earnings at ($1.72) EPS, Q1 2025 earnings at ($0.85) EPS, Q2 2025 earnings at ($0.87) EPS, Q3 2025 earnings at ($0.89) EPS, Q4 2025 earnings at ($0.91) EPS and FY2025 earnings at ($3.51) EPS.

Other research analysts have also recently issued reports about the company. BMO Capital Markets lowered their target price on MacroGenics from $8.00 to $5.00 and set a market perform rating for the company in a research note on Wednesday, August 7th. B. Riley lowered shares of MacroGenics from a buy rating to a neutral rating and cut their target price for the stock from $18.00 to $5.00 in a research note on Wednesday, July 31st. BTIG Research cut shares of MacroGenics from a buy rating to a neutral rating in a report on Thursday, August 1st. Stifel Nicolaus cut shares of MacroGenics from a buy rating to a hold rating and lowered their price target for the stock from $29.00 to $7.00 in a report on Friday, May 10th. Finally, Barclays reduced their price objective on shares of MacroGenics from $14.00 to $9.00 and set an overweight rating on the stock in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $8.11.

MacroGenics Trading Up 4.8 %

MGNX opened at $3.49 on Wednesday. The firm has a market cap of $218.59 million, a price-to-earnings ratio of -8.95 and a beta of 2.09. The stock’s 50-day moving average price is $4.24 and its 200 day moving average price is $10.12. MacroGenics has a 12-month low of $3.14 and a 12-month high of $21.88.

MacroGenics (NASDAQ:MGNX) last announced 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). MacroGenics had a negative net margin of 53.60% and a negative return on equity of 98.01%. The business had revenue of $10.80 million during the quarter, compared to analyst estimates of $24.14 million. On average, research analysts forecast that MacroGenics will post -2.19 earnings per share for the current year.

Hedge Funds Weigh In On MacroGenics

Several large investors have recently bought and sold shares of the stock. Perceptive Advisors LLC purchased a new stake in shares of MacroGenics in the 4th quarter valued at about $5,887,000. Jump Financial LLC purchased a new stake in MacroGenics in the fourth quarter valued at approximately $135,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 acquiring an additional 2,409,237 shares during the period. BNP Paribas Financial Markets grew its position in shares of MacroGenics by 144.5% during the fourth quarter. BNP Paribas Financial Markets now owns 42,109 shares of the biopharmaceutical company’s stock worth $405,000 after acquiring an additional 24,883 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. increased its holdings in shares of MacroGenics by 33.2% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,401,704 shares of the biopharmaceutical company’s stock valued at $23,104,000 after acquiring an additional 598,500 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.