HC Wainwright Reiterates Neutral Rating for MacroGenics (NASDAQ:MGNX)

MacroGenics (NASDAQ:MGNX)‘s stock had its “neutral” rating restated by analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They currently have a $4.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 18.87% from the stock’s previous close.

Several other analysts have also commented on MGNX. StockNews.com lowered MacroGenics from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. JMP Securities lowered their price objective on shares of MacroGenics from $16.00 to $8.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 31st. Evercore ISI upgraded shares of MacroGenics to a “strong-buy” rating in a research report on Monday. Barclays dropped their price target on shares of MacroGenics from $14.00 to $9.00 and set an “overweight” rating on the stock in a research note on Monday, July 29th. Finally, BMO Capital Markets cut their price target on MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $8.11.

MacroGenics Stock Performance

Shares of NASDAQ MGNX opened at $3.37 on Wednesday. MacroGenics has a 52-week low of $3.14 and a 52-week high of $21.88. The company has a market cap of $210.76 million, a PE ratio of -8.63 and a beta of 2.09. The firm’s 50 day moving average price is $4.00 and its 200-day moving average price is $8.45.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.42). MacroGenics had a negative return on equity of 146.01% and a negative net margin of 332.47%. The business had revenue of $10.80 million during the quarter, compared to the consensus estimate of $24.14 million. On average, analysts forecast that MacroGenics will post -1.72 earnings per share for the current fiscal year.

Institutional Trading of MacroGenics

Large investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its position in MacroGenics by 8.9% in the first quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock worth $225,000 after purchasing an additional 1,246 shares during the last quarter. Diversified Trust Co increased its position in MacroGenics by 16.0% during the first quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock valued at $201,000 after acquiring an additional 1,880 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of MacroGenics in the first quarter valued at $40,000. CANADA LIFE ASSURANCE Co bought a new stake in shares of MacroGenics in the 1st quarter worth about $52,000. Finally, Principal Financial Group Inc. boosted its stake in shares of MacroGenics by 1.1% during the 2nd quarter. Principal Financial Group Inc. now owns 348,421 shares of the biopharmaceutical company’s stock worth $1,481,000 after purchasing an additional 3,818 shares during the period. Institutional investors own 96.89% of the company’s stock.

About MacroGenics

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.