Barclays Forecasts Strong Price Appreciation for MacroGenics (NASDAQ:MGNX) Stock

MacroGenics (NASDAQ:MGNX) had its price objective upped by equities research analysts at Barclays from $3.00 to $4.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays‘s target price points to a potential upside of 36.15% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Zacks Research lowered shares of MacroGenics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Citigroup restated a “market perform” rating on shares of MacroGenics in a research report on Tuesday, February 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MacroGenics in a research report on Monday, December 22nd. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.80.

MacroGenics Stock Performance

MacroGenics stock traded up $0.58 during midday trading on Tuesday, hitting $2.94. 1,447,005 shares of the company were exchanged, compared to its average volume of 825,508. MacroGenics has a fifty-two week low of $0.99 and a fifty-two week high of $2.95. The business has a fifty day simple moving average of $1.80 and a two-hundred day simple moving average of $1.68. The firm has a market capitalization of $185.86 million, a PE ratio of -2.45 and a beta of 1.45.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Monday, March 9th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.20. MacroGenics had a negative net margin of 59.46% and a negative return on equity of 98.30%. The firm had revenue of $41.23 million during the quarter, compared to analyst estimates of $27.81 million. As a group, equities analysts expect that MacroGenics will post -1.06 earnings per share for the current year.

Institutional Trading of MacroGenics

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in shares of MacroGenics by 55.9% during the third quarter. SG Americas Securities LLC now owns 17,179 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 6,161 shares in the last quarter. Walleye Capital LLC boosted its position in MacroGenics by 31.8% during the fourth quarter. Walleye Capital LLC now owns 33,180 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 8,000 shares during the last quarter. Cresset Asset Management LLC grew its stake in MacroGenics by 52.3% during the 2nd quarter. Cresset Asset Management LLC now owns 26,720 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 9,172 shares in the last quarter. State of Wyoming raised its holdings in MacroGenics by 41.8% in the 2nd quarter. State of Wyoming now owns 31,557 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 9,295 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in MacroGenics by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,224,234 shares of the biopharmaceutical company’s stock worth $7,097,000 after purchasing an additional 11,120 shares in the last quarter. 96.89% of the stock is owned by institutional investors and hedge funds.

MacroGenics Company Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.