MacroGenics, Inc. (NASDAQ:MGNX) Receives Average Recommendation of “Hold” from Analysts

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been assigned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $8.11.

Several research firms have recently issued reports on MGNX. HC Wainwright reissued a “neutral” rating and issued a $4.00 price target on shares of MacroGenics in a research note on Wednesday, September 18th. Evercore ISI upgraded shares of MacroGenics to a “strong-buy” rating in a research report on Monday, September 16th. StockNews.com downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. B. Riley lowered shares of MacroGenics from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $5.00 in a research note on Wednesday, July 31st. Finally, 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.

MacroGenics Stock Up 1.1 %

Shares of NASDAQ:MGNX opened at $3.59 on Tuesday. MacroGenics has a fifty-two week low of $2.95 and a fifty-two week high of $21.88. The company has a market cap of $224.85 million, a PE ratio of -9.21 and a beta of 2.08. The company’s 50-day moving average price is $3.52 and its 200 day moving average price is $7.13.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data 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 return on equity of 146.01% and a negative net margin of 332.47%. The business 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 -1.72 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC acquired a new stake in shares of MacroGenics during the first quarter worth $40,000. CANADA LIFE ASSURANCE Co purchased a new position in MacroGenics in the 1st quarter worth about $52,000. SG Americas Securities LLC acquired a new stake in MacroGenics during the 3rd quarter worth about $55,000. DRW Securities LLC acquired a new position in shares of MacroGenics in the second quarter worth about $56,000. Finally, K2 Principal Fund L.P. purchased a new position in shares of MacroGenics in 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.