HC Wainwright Cuts MacroGenics (NASDAQ:MGNX) Price Target to $2.00

MacroGenics (NASDAQ:MGNX) had its price target cut by HC Wainwright from $4.00 to $2.00 in a research note released on Tuesday morning, MarketBeat.com reports. The firm currently has a neutral rating on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for MacroGenics’ Q1 2025 earnings at ($0.69) EPS, Q2 2025 earnings at ($0.71) EPS, Q3 2025 earnings at ($0.73) EPS, Q4 2025 earnings at ($0.75) EPS and FY2025 earnings at ($2.89) EPS.

Separately, StockNews.com downgraded shares of MacroGenics from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Nine investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, MacroGenics currently has a consensus rating of “Hold” and an average price target of $7.38.

MacroGenics Stock Performance

Shares of MGNX stock opened at $1.48 on Tuesday. MacroGenics has a fifty-two week low of $1.46 and a fifty-two week high of $19.54. The company has a 50 day moving average price of $2.54 and a 200 day moving average price of $3.17. The stock has a market capitalization of $93.37 million, a P/E ratio of -0.94 and a beta of 2.12.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $49.40 million for the quarter, compared to analyst estimates of $34.17 million. MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. On average, research analysts forecast that MacroGenics will post -1.06 EPS for the current fiscal year.

Hedge Funds Weigh In On MacroGenics

Large investors have recently bought and sold shares of the stock. Lazard Asset Management LLC acquired a new stake in shares of MacroGenics during the fourth quarter worth about $32,000. XTX Topco Ltd acquired a new position in MacroGenics during the third quarter worth approximately $37,000. American Century Companies Inc. acquired a new position in MacroGenics during the fourth quarter worth approximately $38,000. Sanders Morris Harris LLC purchased a new stake in MacroGenics in the fourth quarter valued at approximately $40,000. Finally, Jump Financial LLC acquired a new stake in shares of MacroGenics in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

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.