Several other equities research analysts also recently commented on MGNX. HC Wainwright reissued a buy rating and issued a $14.00 price objective on shares of MacroGenics in a report on Thursday, August 10th. JMP Securities raised their price target on MacroGenics from $8.00 to $10.00 in a report on Thursday, May 11th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $12.71.
MacroGenics Trading Up 4.3 %
MacroGenics (NASDAQ:MGNX – Get Free Report) last released its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.16. The company had revenue of $13.14 million during the quarter, compared to the consensus estimate of $27.06 million. MacroGenics had a negative return on equity of 52.98% and a net margin of 4.89%. As a group, sell-side analysts predict that MacroGenics will post 0.02 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Director Edward Hurwitz acquired 15,000 shares of the stock in a transaction on Wednesday, August 30th. The shares were purchased at an average price of $4.91 per share, for a total transaction of $73,650.00. Following the transaction, the director now directly owns 33,074 shares of the company’s stock, valued at $162,393.34. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 10.00% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in MacroGenics by 121.0% during the 2nd quarter. Wells Fargo & Company MN now owns 23,986 shares of the biopharmaceutical company’s stock worth $128,000 after buying an additional 13,131 shares during the period. Woodline Partners LP bought a new position in shares of MacroGenics in the second quarter worth $1,951,000. Goldman Sachs Group Inc. raised its stake in MacroGenics by 20.3% in the second quarter. Goldman Sachs Group Inc. now owns 398,646 shares of the biopharmaceutical company’s stock valued at $2,133,000 after purchasing an additional 67,251 shares in the last quarter. Captrust Financial Advisors acquired a new position in MacroGenics in the second quarter valued at about $86,000. Finally, Royal Bank of Canada raised its stake in MacroGenics by 57.1% in the second quarter. Royal Bank of Canada now owns 5,922 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 2,153 shares in the last quarter. Institutional investors own 96.89% of the company’s stock.
MacroGenics Company Profile
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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