MacroGenics (NASDAQ:MGNX) Now Covered by B. Riley

B. Riley started coverage on shares of MacroGenics (NASDAQ:MGNX) in a research note released on Friday, MarketBeat.com reports. The firm issued a buy rating and a $25.00 price target on the biopharmaceutical company’s stock.

MGNX has been the subject of a number of other reports. JMP Securities restated a market outperform rating on shares of MacroGenics in a research report on Thursday, April 4th. Barclays lifted their price target on shares of MacroGenics from $12.00 to $23.00 and gave the stock an overweight rating in a research note on Thursday, February 29th. BTIG Research upped their price target on shares of MacroGenics from $12.00 to $24.00 and gave the company a buy rating in a report on Monday, March 4th. HC Wainwright downgraded shares of MacroGenics from a buy rating to a neutral rating and raised their price objective for the stock from $12.00 to $14.00 in a research note on Wednesday, February 14th. Finally, TD Cowen raised MacroGenics from a hold rating to a buy rating in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $18.00.

MacroGenics Stock Up 1.3 %

Shares of NASDAQ:MGNX opened at $14.56 on Friday. The firm has a fifty day simple moving average of $16.68 and a two-hundred day simple moving average of $12.07. MacroGenics has a 52 week low of $4.29 and a 52 week high of $21.88. The stock has a market capitalization of $910.89 million, a P/E ratio of -91.00 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.49). The company had revenue of $10.72 million for the quarter, compared to the consensus estimate of $25.70 million. MacroGenics had a negative return on equity of 88.49% and a negative net margin of 15.42%. During the same period in the previous year, the firm earned $0.21 earnings per share. On average, analysts expect that MacroGenics will post -2.7 earnings per share for the current year.

Insider Buying and Selling

In other MacroGenics news, SVP Ezio Bonvini sold 13,316 shares of MacroGenics stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $15.00, for a total transaction of $199,740.00. Following the completion of the sale, the senior vice president now directly owns 74,668 shares of the company’s stock, valued at approximately $1,120,020. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Jeffrey Stuart Peters sold 16,124 shares of MacroGenics stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $17.22, for a total value of $277,655.28. Following the transaction, the vice president now owns 8,895 shares of the company’s stock, valued at approximately $153,171.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Ezio Bonvini sold 13,316 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $15.00, for a total value of $199,740.00. Following the completion of the sale, the senior vice president now directly owns 74,668 shares of the company’s stock, valued at approximately $1,120,020. The disclosure for this sale can be found here. Insiders have sold a total of 80,835 shares of company stock valued at $1,276,588 over the last quarter. 11.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bellevue Group AG increased its position in shares of MacroGenics by 1.5% in the 4th quarter. Bellevue Group AG now owns 9,953,313 shares of the biopharmaceutical company’s stock valued at $95,751,000 after acquiring an additional 150,000 shares during the period. Vanguard Group Inc. increased its holdings in shares of MacroGenics by 0.8% in the third quarter. Vanguard Group Inc. now owns 4,414,924 shares of the biopharmaceutical company’s stock valued at $20,574,000 after purchasing an additional 36,396 shares during the period. Frazier Life Sciences Management L.P. raised its stake in shares of MacroGenics by 33.2% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,401,704 shares of the biopharmaceutical company’s stock worth $23,104,000 after purchasing an additional 598,500 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of MacroGenics by 7.8% during the third quarter. Acadian Asset Management LLC now owns 1,371,396 shares of the biopharmaceutical company’s stock worth $6,388,000 after purchasing an additional 99,755 shares during the period. Finally, Silverarc Capital Management LLC lifted its holdings in shares of MacroGenics by 4.0% during the third quarter. Silverarc Capital Management LLC now owns 1,264,158 shares of the biopharmaceutical company’s stock worth $5,891,000 after purchasing an additional 48,483 shares during the period. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, 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.