Brokerages Set MacroGenics, Inc. (NASDAQ:MGNX) Target Price at $5.40

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been given a consensus recommendation of “Hold” by the eight analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $5.40.

MGNX has been the subject of a number of research reports. Citigroup restated a “market perform” rating on shares of MacroGenics in a report on Tuesday, February 24th. B. Riley Financial upgraded shares of MacroGenics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $3.00 to $9.00 in a report on Friday, April 10th. Zacks Research cut shares of MacroGenics from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Wall Street Zen upgraded shares of MacroGenics from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Barclays lifted their price objective on shares of MacroGenics from $4.00 to $6.00 and gave the company an “overweight” rating in a report on Monday, April 20th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in MacroGenics during the 4th quarter worth approximately $26,000. Engineers Gate Manager LP acquired a new position in MacroGenics during the 2nd quarter worth approximately $28,000. SG Americas Securities LLC grew its holdings in MacroGenics by 55.9% during the 3rd quarter. SG Americas Securities LLC now owns 17,179 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 6,161 shares in the last quarter. Walleye Capital LLC acquired a new position in MacroGenics during the 2nd quarter worth approximately $30,000. Finally, Cresset Asset Management LLC grew its holdings in MacroGenics by 52.3% during the 2nd quarter. Cresset Asset Management LLC now owns 26,720 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 9,172 shares in the last quarter. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Stock Performance

Shares of MGNX stock opened at $3.05 on Friday. The stock has a market capitalization of $193.86 million, a P/E ratio of -2.61 and a beta of 1.09. The company has a 50 day moving average price of $2.81 and a 200 day moving average price of $2.04. MacroGenics has a fifty-two week low of $1.18 and a fifty-two week high of $3.88.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Monday, March 9th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.20. The firm had revenue of $41.23 million during the quarter, compared to analysts’ expectations of $27.81 million. MacroGenics had a negative net margin of 49.91% and a negative return on equity of 120.19%. On average, research analysts forecast that MacroGenics will post -1.2 EPS for the current fiscal year.

About MacroGenics

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.