MacroGenics, Inc. (NASDAQ:MGNX) Receives $12.00 Average PT from Brokerages

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been given an average rating of “Moderate Buy” by the ten ratings firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $12.00.

Several research analysts recently issued reports on MGNX shares. JMP Securities dropped their price target on shares of MacroGenics from $22.00 to $16.00 and set a “market outperform” rating for the company in a research report on Friday, May 10th. TD Cowen lowered MacroGenics from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. BMO Capital Markets lowered MacroGenics from an “outperform” rating to a “market perform” rating and cut their price target for the company from $24.00 to $8.00 in a report on Friday, May 10th. Barclays decreased their target price on shares of MacroGenics from $25.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Finally, B. Riley initiated coverage on MacroGenics in a research note on Friday, April 26th. They set a “buy” rating and a $25.00 price objective on the stock.

Insider Buying and Selling at MacroGenics

In related news, VP Jeffrey Stuart Peters sold 51,395 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $15.55, for a total transaction of $799,192.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On MacroGenics

Several hedge funds have recently added to or reduced their stakes in MGNX. Perceptive Advisors LLC bought a new stake in MacroGenics in the fourth quarter worth approximately $5,887,000. Jump Financial LLC bought a new position in MacroGenics in the 4th quarter valued at $135,000. GSA Capital Partners LLP increased its holdings in MacroGenics by 74.9% during the third quarter. GSA Capital Partners LLP now owns 225,918 shares of the biopharmaceutical company’s stock worth $1,053,000 after buying an additional 96,760 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of MacroGenics by 144.5% during the 4th quarter. BNP Paribas Financial Markets now owns 42,109 shares of the biopharmaceutical company’s stock worth $405,000 after purchasing an additional 24,883 shares during the last quarter. Finally, 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 valued at $23,104,000 after buying an additional 598,500 shares during the period. 96.89% of the stock is currently owned by institutional investors and hedge funds.

MacroGenics Price Performance

NASDAQ MGNX opened at $4.12 on Friday. MacroGenics has a fifty-two week low of $3.14 and a fifty-two week high of $21.88. The stock’s 50-day moving average is $7.69 and its two-hundred day moving average is $12.04. The firm has a market cap of $258.04 million, a P/E ratio of -10.56 and a beta of 2.01.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.17). The business had revenue of $9.10 million for the quarter, compared to analyst estimates of $13.63 million. MacroGenics had a negative return on equity of 98.01% and a negative net margin of 53.60%. On average, equities analysts expect that MacroGenics will post -3.04 EPS for the current 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.