MacroGenics (NASDAQ:MGNX) Price Target Cut to $35.00

MacroGenics (NASDAQ:MGNXGet Rating) had its price objective dropped by stock analysts at HC Wainwright from $41.00 to $35.00 in a research report issued on Wednesday, The Fly reports. HC Wainwright’s price target points to a potential upside of 351.61% from the stock’s previous close.

Several other equities research analysts have also recently commented on MGNX. Zacks Investment Research raised MacroGenics from a “sell” rating to a “hold” rating in a report on Tuesday. StockNews.com began coverage on MacroGenics in a report on Thursday, March 31st. They issued a “sell” rating for the company. BMO Capital Markets began coverage on MacroGenics in a report on Friday, February 11th. They issued an “outperform” rating and a $31.00 price target for the company. SVB Leerink cut their price target on MacroGenics from $40.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, February 25th. Finally, Sumitomo Mitsui Financial Group assumed coverage on MacroGenics in a report on Friday, February 4th. They issued an “outperform” rating and a $40.00 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $29.30.

NASDAQ MGNX opened at $7.75 on Wednesday. The stock has a market capitalization of $475.31 million, a price-to-earnings ratio of -2.30 and a beta of 2.13. MacroGenics has a twelve month low of $6.92 and a twelve month high of $33.78. The stock has a 50-day moving average of $8.66 and a 200 day moving average of $13.43.

MacroGenics (NASDAQ:MGNXGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.28). MacroGenics had a negative return on equity of 67.34% and a negative net margin of 260.97%. During the same period last year, the firm posted ($0.90) earnings per share. As a group, equities analysts anticipate that MacroGenics will post -2.8 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGNX. Marshall Wace North America L.P. purchased a new position in MacroGenics in the first quarter valued at $59,000. Nisa Investment Advisors LLC boosted its holdings in MacroGenics by 46.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,079 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 1,929 shares during the period. Marshall Wace LLP purchased a new position in MacroGenics in the first quarter valued at $80,000. Point72 Hong Kong Ltd boosted its holdings in MacroGenics by 101.9% in the fourth quarter. Point72 Hong Kong Ltd now owns 5,361 shares of the biopharmaceutical company’s stock valued at $86,000 after purchasing an additional 2,706 shares during the period. Finally, Royal Bank of Canada boosted its holdings in MacroGenics by 14.9% in the third quarter. Royal Bank of Canada now owns 7,629 shares of the biopharmaceutical company’s stock valued at $159,000 after purchasing an additional 990 shares during the period.

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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