MacroGenics, Inc. (NASDAQ:MGNX) Given Consensus Rating of “Hold” by Brokerages

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been given an average rating of “Hold” by the eleven research firms that are covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $7.63.

Separately, StockNews.com cut shares of MacroGenics from a “buy” rating to a “hold” rating in a report on Friday.

MacroGenics Price Performance

MGNX stock traded down $0.10 during mid-day trading on Friday, hitting $2.00. 1,168,086 shares of the stock were exchanged, compared to its average volume of 1,156,806. MacroGenics has a 12 month low of $1.89 and a 12 month high of $19.54. The business has a fifty day moving average price of $2.66 and a 200 day moving average price of $3.22. The stock has a market capitalization of $125.53 million, a price-to-earnings ratio of -1.27 and a beta of 2.12.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. The business had revenue of $49.40 million for the quarter, compared to analysts’ expectations of $34.17 million. As a group, equities analysts forecast that MacroGenics will post -1.06 EPS for the current fiscal year.

Hedge Funds Weigh In On MacroGenics

A number of institutional investors have recently bought and sold shares of the business. Frazier Life Sciences Management L.P. raised its holdings in shares of MacroGenics by 5.5% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,175,665 shares of the biopharmaceutical company’s stock worth $10,321,000 after purchasing an additional 164,938 shares during the last quarter. Two Sigma Advisers LP grew its position in MacroGenics by 7.1% during the 4th quarter. Two Sigma Advisers LP now owns 1,118,600 shares of the biopharmaceutical company’s stock worth $3,635,000 after purchasing an additional 74,596 shares during the period. ProShare Advisors LLC raised its stake in shares of MacroGenics by 32.4% during the 4th quarter. ProShare Advisors LLC now owns 20,284 shares of the biopharmaceutical company’s stock valued at $66,000 after buying an additional 4,963 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of MacroGenics in the fourth quarter worth about $32,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in MacroGenics during the fourth quarter worth about $364,000. 96.89% of the stock is owned by hedge funds and other institutional investors.

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.