MacroGenics, Inc. (NASDAQ:MGNX) Receives $8.11 Consensus PT from Brokerages

MacroGenics, Inc. (NASDAQ:MGNX) has received an average recommendation of “Hold” from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $8.11.

Several equities analysts recently issued reports on the stock. HC Wainwright restated a “neutral” rating and issued a $4.00 target price on shares of MacroGenics in a report on Wednesday, August 21st. BMO Capital Markets dropped their target price on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. JMP Securities dropped their target price on shares of MacroGenics from $16.00 to $8.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 31st. B. Riley lowered shares of MacroGenics from a “buy” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $5.00 in a report on Wednesday, July 31st. Finally, BTIG Research lowered shares of MacroGenics from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st.

Hedge Funds Weigh In On MacroGenics

Several institutional investors have recently made changes to their positions in MGNX. Natixis Advisors L.P. acquired a new stake in shares of MacroGenics in the 4th quarter worth about $297,000. Charles Schwab Investment Management Inc. raised its holdings in shares of MacroGenics by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 833,500 shares of the biopharmaceutical company’s stock worth $8,018,000 after acquiring an additional 8,111 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of MacroGenics by 144.5% in the 4th 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. Jump Financial LLC acquired a new stake in shares of MacroGenics in the 4th quarter worth about $135,000. Finally, Panagora Asset Management Inc. raised its holdings in shares of MacroGenics by 5.4% in the 4th quarter. Panagora Asset Management Inc. now owns 398,944 shares of the biopharmaceutical company’s stock worth $3,838,000 after acquiring an additional 20,284 shares during the last quarter. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Price Performance

Shares of MacroGenics stock opened at $3.61 on Friday. MacroGenics has a twelve month low of $3.14 and a twelve month high of $21.88. The company’s fifty day moving average is $4.02 and its 200 day moving average is $8.76.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.42). MacroGenics had a negative return on equity of 146.01% and a negative net margin of 332.47%. The business had revenue of $10.80 million during the quarter, compared to the consensus estimate of $24.14 million. Analysts expect that MacroGenics will post -1.72 EPS for the current year.

MacroGenics Company Profile

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.