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

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been given an average recommendation of “Hold” by the seven brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $5.50.

MGNX has been the subject of several recent analyst reports. B. Riley Financial upgraded MacroGenics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $3.00 to $9.00 in a research note on Friday, April 10th. Wall Street Zen upgraded MacroGenics from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Barclays lifted their price target on MacroGenics from $4.00 to $6.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Citigroup restated a “market perform” rating on shares of MacroGenics in a research note on Tuesday, February 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MacroGenics in a research note on Friday, May 8th.

Institutional Investors Weigh In On MacroGenics

Large investors have recently bought and sold shares of the company. R Squared Ltd purchased a new stake in MacroGenics during the 4th quarter worth approximately $26,000. Engineers Gate Manager LP purchased a new stake in MacroGenics during the 2nd quarter worth approximately $28,000. Walleye Capital LLC purchased a new stake in MacroGenics during the 2nd quarter worth approximately $30,000. Cresset Asset Management LLC increased 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 worth $32,000 after buying an additional 9,172 shares in the last quarter. Finally, Rangeley Capital LLC purchased a new stake in MacroGenics during the 2nd quarter worth approximately $33,000. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

MacroGenics Price Performance

Shares of MacroGenics stock opened at $4.13 on Friday. MacroGenics has a twelve month low of $1.18 and a twelve month high of $4.64. The business has a 50-day moving average price of $3.76 and a 200 day moving average price of $2.63. The firm has a market cap of $262.50 million, a PE ratio of -3.75 and a beta of 1.18.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.01). MacroGenics had a negative net margin of 44.79% and a negative return on equity of 147.80%. The business had revenue of $20.78 million during the quarter, compared to analysts’ expectations of $15.24 million. On average, sell-side analysts expect that MacroGenics will post -1.76 EPS for the current year.

About MacroGenics

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.