MacroGenics, Inc. (NASDAQ:MGNX) Receives Average Rating of “Buy” from Analysts

Shares of MacroGenics, Inc. (NASDAQ:MGNX – Get Rating) have been assigned an average recommendation of “Buy” from the thirteen research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $29.30.

Several equities research analysts have weighed in on the stock. SVB Leerink cut their target price on shares of MacroGenics from $40.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, February 25th. BMO Capital Markets assumed coverage on shares of MacroGenics in a report on Friday, February 11th. They issued an “outperform” rating and a $31.00 target price on the stock. Barclays cut their target price on shares of MacroGenics from $35.00 to $18.00 in a report on Friday, February 25th. Citigroup upgraded shares of MacroGenics from a “neutral” rating to a “buy” rating and cut their target price for the stock from $23.00 to $21.00 in a report on Monday, February 28th. Finally, StockNews.com assumed coverage on shares of MacroGenics in a report on Thursday, March 31st. They issued a “sell” rating on the stock.

Shares of NASDAQ MGNX opened at $8.61 on Friday. The company’s 50 day simple moving average is $9.45 and its 200 day simple moving average is $14.68. MacroGenics has a fifty-two week low of $7.91 and a fifty-two week high of $36.48. The firm has a market capitalization of $528.01 million, a P/E ratio of -2.55 and a beta of 2.14.

MacroGenics (NASDAQ:MGNX – Get Rating) last announced its quarterly earnings data on Thursday, February 24th. The biopharmaceutical company reported ($0.95) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.83) by ($0.12). The business had revenue of $14.15 million during the quarter, compared to analyst estimates of $19.83 million. MacroGenics had a negative net margin of 260.97% and a negative return on equity of 67.34%. During the same quarter in the prior year, the company earned $0.02 earnings per share. Equities research analysts anticipate that MacroGenics will post -2.55 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. HighVista Strategies LLC grew its position in MacroGenics by 115.2% in the third quarter. HighVista Strategies LLC now owns 54,012 shares of the biopharmaceutical company’s stock valued at $1,131,000 after purchasing an additional 28,908 shares in the last quarter. Strs Ohio grew its position in MacroGenics by 127.8% in the fourth quarter. Strs Ohio now owns 36,000 shares of the biopharmaceutical company’s stock valued at $577,000 after purchasing an additional 20,200 shares in the last quarter. Swiss National Bank grew its position in MacroGenics by 7.0% in the third quarter. Swiss National Bank now owns 106,100 shares of the biopharmaceutical company’s stock valued at $2,222,000 after purchasing an additional 6,900 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in MacroGenics by 269.6% in the third quarter. Cubist Systematic Strategies LLC now owns 48,080 shares of the biopharmaceutical company’s stock valued at $1,007,000 after purchasing an additional 35,073 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new position in MacroGenics in the third quarter valued at $1,027,000. 96.16% of the stock is owned by institutional investors and hedge funds.

About MacroGenics (Get Rating)

MacroGenics, Inc, a biopharmaceutical company, develops 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.

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