MacroGenics (NASDAQ:MGNX) PT Raised to $10.00

MacroGenics (NASDAQ:MGNX – Get Rating) had its target price boosted by equities researchers at JMP Securities from $8.00 to $10.00 in a research note issued on Thursday, The Fly reports. JMP Securities’ price objective indicates a potential upside of 51.98% from the company’s previous close.

Several other research analysts also recently weighed in on the company. Stifel Nicolaus increased their price target on MacroGenics from $15.00 to $17.00 in a research note on Thursday, March 9th. Guggenheim reissued a “neutral” rating on shares of MacroGenics in a report on Friday, March 17th. StockNews.com assumed coverage on MacroGenics in a research report on Thursday, March 16th. They set a “hold” rating for the company. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of MacroGenics in a research note on Monday, April 3rd. Finally, Citigroup increased their price target on MacroGenics from $7.00 to $8.00 in a report on Monday, March 20th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.40.

MacroGenics Stock Down 4.2 %

NASDAQ MGNX opened at $6.58 on Thursday. MacroGenics has a 12-month low of $2.13 and a 12-month high of $7.90. The firm’s 50 day moving average is $6.76 and its 200-day moving average is $6.24. The company has a market capitalization of $406.91 million, a PE ratio of -3.39 and a beta of 2.00.

MacroGenics (NASDAQ:MGNX – Get Rating) last released its quarterly earnings data on Wednesday, March 15th. The biopharmaceutical company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.51. MacroGenics had a negative return on equity of 81.79% and a negative net margin of 78.82%. The company had revenue of $73.10 million during the quarter, compared to the consensus estimate of $75.40 million. As a group, sell-side analysts expect that MacroGenics will post -0.5 EPS for the current year.

Insider Buying and Selling at MacroGenics

In other MacroGenics news, major shareholder Target N. V. Biotech acquired 500,000 shares of the stock in a transaction that occurred on Tuesday, February 14th. The stock was bought at an average cost of $5.07 per share, for a total transaction of $2,535,000.00. Following the completion of the transaction, the insider now owns 9,579,963 shares of the company’s stock, valued at approximately $48,570,412.41. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Jeffrey Stuart Peters sold 5,372 shares of MacroGenics stock in a transaction on Friday, March 10th. The stock was sold at an average price of $6.03, for a total value of $32,393.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Target N. V. Biotech purchased 500,000 shares of the business’s stock in a transaction on Tuesday, February 14th. The stock was acquired at an average price of $5.07 per share, for a total transaction of $2,535,000.00. Following the completion of the purchase, the insider now owns 9,579,963 shares of the company’s stock, valued at $48,570,412.41. The disclosure for this purchase can be found here. Insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On MacroGenics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in MacroGenics in the 1st quarter valued at approximately $27,000. Point72 Middle East FZE purchased a new stake in shares of MacroGenics during the 4th quarter worth approximately $28,000. Nisa Investment Advisors LLC boosted its stake in shares of MacroGenics by 692.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,150 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 4,500 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of MacroGenics by 228.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 9,281 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 6,451 shares in the last quarter. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of MacroGenics during the 4th quarter worth approximately $77,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

MacroGenics Company Profile

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MacroGenics, Inc is a biopharmaceutical company, which engages in the development and commercialization of antibody-based therapeutics for the treatment of cancer. Its product pipeline includes Margetuximab, Flotetuzumab, Retifanlimab, Enoblituzumab, Tebotelimab, MGC018, MGD019, IMGC936, and MGD014 for infectious diseases.