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

Shares of MacroGenics, Inc. (NASDAQ:MGNXGet Rating) have been assigned an average recommendation of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $16.50.

MGNX has been the subject of several research analyst reports. StockNews.com initiated coverage on shares of MacroGenics in a report on Thursday, March 31st. They issued a “sell” rating for the company. Guggenheim lowered shares of MacroGenics from a “buy” rating to a “neutral” rating in a report on Wednesday, May 4th. HC Wainwright lowered their price objective on shares of MacroGenics from $41.00 to $35.00 in a report on Wednesday, May 4th. BMO Capital Markets lowered shares of MacroGenics from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $31.00 to $4.00 in a report on Monday, July 11th. Finally, BTIG Research set a $6.00 price objective on shares of MacroGenics in a report on Tuesday, July 19th.

Insider Activity at MacroGenics

In other news, CFO James Karrels purchased 40,000 shares of MacroGenics stock in a transaction that occurred on Wednesday, June 15th. The stock was bought at an average price of $2.47 per share, with a total value of $98,800.00. Following the completion of the transaction, the chief financial officer now directly owns 191,776 shares of the company’s stock, valued at $473,686.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.90% of the stock is owned by insiders.

Institutional Investors Weigh In On MacroGenics

Large investors have recently added to or reduced their stakes in the stock. Ensign Peak Advisors Inc bought a new stake in shares of MacroGenics during the 4th quarter valued at $208,000. Massachusetts Financial Services Co. MA grew its position in shares of MacroGenics by 103.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 78,299 shares of the biopharmaceutical company’s stock valued at $1,257,000 after acquiring an additional 39,894 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of MacroGenics during the 4th quarter valued at $189,000. Strs Ohio lifted its stake in shares of MacroGenics by 127.8% during the 4th quarter. Strs Ohio now owns 36,000 shares of the biopharmaceutical company’s stock valued at $577,000 after buying an additional 20,200 shares in the last quarter. Finally, Rafferty Asset Management LLC lifted its stake in shares of MacroGenics by 65.3% during the 4th quarter. Rafferty Asset Management LLC now owns 171,779 shares of the biopharmaceutical company’s stock valued at $2,757,000 after buying an additional 67,848 shares in the last quarter.

MacroGenics Trading Down 4.2 %

MacroGenics stock opened at $3.63 on Friday. The firm has a 50-day moving average of $3.35 and a 200-day moving average of $7.47. The firm has a market cap of $222.63 million, a P/E ratio of -1.02 and a beta of 2.13. MacroGenics has a 1-year low of $2.13 and a 1-year high of $28.09.

MacroGenics (NASDAQ:MGNXGet Rating) last posted its earnings results on Tuesday, May 3rd. The biopharmaceutical company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.24). The firm had revenue of $11.10 million for the quarter, compared to analysts’ expectations of $17.20 million. MacroGenics had a negative return on equity of 84.52% and a negative net margin of 303.19%. During the same quarter in the prior year, the company posted ($0.90) earnings per share. Research analysts forecast that MacroGenics will post -3.17 earnings per share for the current fiscal year.

About MacroGenics

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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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