MacroGenics (NASDAQ:MGNX) Price Target Raised to $4.00 at Barclays

MacroGenics (NASDAQ:MGNX) had its target price boosted by Barclays from $3.00 to $4.00 in a research note issued to investors on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other research analysts also recently commented on the stock. Citigroup reaffirmed a “market perform” rating on shares of MacroGenics in a report on Tuesday, February 24th. Zacks Research downgraded MacroGenics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MacroGenics in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, MacroGenics currently has an average rating of “Hold” and a consensus target price of $3.80.

MacroGenics Stock Performance

MGNX stock opened at $3.43 on Tuesday. The company’s fifty day moving average price is $1.84 and its 200-day moving average price is $1.69. MacroGenics has a one year low of $0.99 and a one year high of $3.50. The company has a market capitalization of $216.98 million, a PE ratio of -2.93 and a beta of 1.45.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Monday, March 9th. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.20. MacroGenics had a negative return on equity of 116.15% and a negative net margin of 49.91%.The firm had revenue of $41.23 million for the quarter, compared to analysts’ expectations of $27.81 million. On average, research analysts predict that MacroGenics will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

A number of institutional investors and hedge funds have recently modified their holdings of MGNX. R Squared Ltd bought a new position in MacroGenics in the 4th quarter worth about $26,000. Quadrature Capital Ltd purchased a new position in shares of MacroGenics during the second quarter worth approximately $26,000. Engineers Gate Manager LP purchased a new position in shares of MacroGenics during the second quarter worth approximately $28,000. SG Americas Securities LLC raised its stake in shares of MacroGenics by 55.9% during the third quarter. SG Americas Securities LLC now owns 17,179 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 6,161 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of MacroGenics in the second quarter valued at approximately $30,000. 96.89% of the stock is owned by institutional investors.

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.