MacroGenics’ (MGNX) Neutral Rating Reiterated at HC Wainwright

HC Wainwright reissued their neutral rating on shares of MacroGenics (NASDAQ:MGNX) in a research report sent to investors on Wednesday morning,Benzinga reports. HC Wainwright currently has a $4.00 price target on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for MacroGenics’ Q4 2024 earnings at ($0.12) EPS, FY2024 earnings at ($0.95) EPS, Q1 2025 earnings at ($0.70) EPS, Q2 2025 earnings at ($0.72) EPS, Q3 2025 earnings at ($0.74) EPS, Q4 2025 earnings at ($0.76) EPS and FY2025 earnings at ($2.92) EPS.

MGNX has been the topic of a number of other research reports. StockNews.com downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. BTIG Research downgraded MacroGenics from a “buy” rating to a “neutral” rating in a research note on Thursday, August 1st. Guggenheim downgraded MacroGenics from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 31st. BMO Capital Markets reduced their target price on MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Finally, Barclays lowered their price target on MacroGenics from $14.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.63.

MacroGenics Stock Performance

Shares of NASDAQ:MGNX traded down $0.11 during midday trading on Wednesday, hitting $4.35. 731,100 shares of the stock were exchanged, compared to its average volume of 680,363. The company has a market capitalization of $273.01 million, a PE ratio of -2.75 and a beta of 2.08. MacroGenics has a 52-week low of $2.95 and a 52-week high of $21.88. The business’s fifty day simple moving average is $3.61 and its two-hundred day simple moving average is $5.03.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.42). MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. The firm had revenue of $10.80 million for the quarter, compared to analyst estimates of $24.14 million. As a group, equities analysts anticipate that MacroGenics will post -2.06 EPS for the current year.

Institutional Investors Weigh In On MacroGenics

Hedge funds have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC acquired a new position in shares of MacroGenics during the first quarter valued at $40,000. CANADA LIFE ASSURANCE Co acquired a new position in MacroGenics during the 1st quarter valued at about $52,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of MacroGenics by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 4,707 shares during the last quarter. DRW Securities LLC acquired a new stake in shares of MacroGenics during the 2nd quarter worth approximately $56,000. Finally, K2 Principal Fund L.P. bought a new stake in shares of MacroGenics during the second quarter worth approximately $63,000. Institutional investors own 96.89% of the company’s stock.

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.