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

Shares of MacroGenics, Inc. (NASDAQ:MGNXGet Rating) have earned a consensus recommendation of “Buy” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $30.00.

Several analysts have recently issued reports on MGNX shares. Barclays reduced their target price on MacroGenics from $35.00 to $18.00 in a report on Friday, February 25th. StockNews.com began coverage on MacroGenics in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. SVB Leerink reduced their price objective on MacroGenics from $40.00 to $23.00 and set an “outperform” rating on the stock in a research note on Friday, February 25th. Guggenheim lowered MacroGenics from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 4th. Finally, HC Wainwright cut their price target on MacroGenics from $41.00 to $35.00 in a research note on Wednesday, May 4th.

Several institutional investors and hedge funds have recently modified their holdings of the company. Bellevue Group AG raised its position in shares of MacroGenics by 15.8% during the third quarter. Bellevue Group AG now owns 8,544,597 shares of the biopharmaceutical company’s stock worth $178,924,000 after acquiring an additional 1,168,571 shares during the last quarter. Wasatch Advisors Inc. raised its position in shares of MacroGenics by 4.9% during the third quarter. Wasatch Advisors Inc. now owns 4,319,051 shares of the biopharmaceutical company’s stock worth $90,441,000 after acquiring an additional 201,534 shares during the last quarter. RTW Investments LP raised its position in shares of MacroGenics by 56.1% during the third quarter. RTW Investments LP now owns 3,975,554 shares of the biopharmaceutical company’s stock worth $83,248,000 after acquiring an additional 1,428,629 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of MacroGenics by 42.6% during the fourth quarter. Point72 Asset Management L.P. now owns 1,260,161 shares of the biopharmaceutical company’s stock worth $20,226,000 after acquiring an additional 376,700 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of MacroGenics by 618.9% during the first quarter. Assenagon Asset Management S.A. now owns 1,253,659 shares of the biopharmaceutical company’s stock worth $11,045,000 after acquiring an additional 1,079,273 shares during the last quarter.

MGNX stock opened at $4.26 on Tuesday. The stock has a market capitalization of $261.28 million, a price-to-earnings ratio of -1.20 and a beta of 2.13. The business’s fifty day moving average price is $8.30 and its two-hundred day moving average price is $13.02. MacroGenics has a fifty-two week low of $4.22 and a fifty-two week high of $32.81.

MacroGenics (NASDAQ:MGNXGet Rating) last released its earnings results on Tuesday, May 3rd. The biopharmaceutical company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.28). MacroGenics had a negative return on equity of 84.52% and a negative net margin of 303.19%. During the same period last year, the business earned ($0.90) EPS. Equities research analysts expect that MacroGenics will post -3.15 earnings per share for the current fiscal year.

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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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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