MacroGenics, Inc. (NASDAQ:MGNX) Receives Average Recommendation of “Moderate Buy” from Analysts

MacroGenics, Inc. (NASDAQ:MGNX) has been given an average rating of “Moderate Buy” by the seven brokerages that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $3.60.

MGNX has been the subject of a number of recent analyst reports. Leerink Partners decreased their target price on MacroGenics from $8.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday. Barclays reaffirmed an “overweight” rating and set a $3.00 target price (down previously from $8.00) on shares of MacroGenics in a research report on Wednesday, May 14th. Wall Street Zen cut MacroGenics from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. B. Riley decreased their target price on MacroGenics from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, May 20th. Finally, Stifel Nicolaus decreased their target price on MacroGenics from $6.00 to $5.00 and set a “hold” rating for the company in a research report on Wednesday, May 14th.

Institutional Investors Weigh In On MacroGenics

Several hedge funds have recently modified their holdings of the business. Rangeley Capital LLC bought a new stake in shares of MacroGenics in the second quarter valued at approximately $33,000. EcoR1 Capital LLC bought a new stake in shares of MacroGenics in the second quarter valued at approximately $1,939,000. Engineers Gate Manager LP bought a new stake in shares of MacroGenics in the second quarter valued at approximately $28,000. Bridgeway Capital Management LLC boosted its position in shares of MacroGenics by 16.1% in the second quarter. Bridgeway Capital Management LLC now owns 133,700 shares of the biopharmaceutical company’s stock valued at $162,000 after acquiring an additional 18,500 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of MacroGenics by 99.8% in the second quarter. Ameriprise Financial Inc. now owns 104,751 shares of the biopharmaceutical company’s stock valued at $127,000 after acquiring an additional 52,326 shares during the period. 96.89% of the stock is owned by institutional investors.

MacroGenics Stock Performance

NASDAQ:MGNX opened at $1.58 on Monday. The stock’s 50 day moving average price is $1.51 and its 200 day moving average price is $1.73. MacroGenics has a 52 week low of $0.99 and a 52 week high of $5.10. The company has a market capitalization of $99.68 million, a P/E ratio of -2.77 and a beta of 1.65.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.02. MacroGenics had a negative return on equity of 34.64% and a negative net margin of 21.99%. The firm had revenue of $22.24 million for the quarter, compared to the consensus estimate of $28.06 million. As a group, sell-side analysts forecast that MacroGenics will post -1.06 earnings per share for the current fiscal year.

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.