Brokerages Set MacroGenics, Inc. (NASDAQ:MGNX) PT at $7.63

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have earned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $7.63.

A number of equities analysts have commented on MGNX shares. HC Wainwright reissued a “neutral” rating and set a $4.00 target price on shares of MacroGenics in a report on Wednesday, November 6th. Evercore ISI upgraded MacroGenics to a “strong-buy” rating in a report on Monday, September 16th. StockNews.com raised shares of MacroGenics from a “sell” rating to a “buy” rating in a report on Sunday, November 10th. Finally, JMP Securities downgraded shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th.

Hedge Funds Weigh In On MacroGenics

Several large investors have recently modified their holdings of MGNX. Barclays PLC increased its position in shares of MacroGenics by 97.1% during the 3rd quarter. Barclays PLC now owns 98,753 shares of the biopharmaceutical company’s stock worth $325,000 after purchasing an additional 48,639 shares during the last quarter. XTX Topco Ltd purchased a new position in MacroGenics during the third quarter worth about $37,000. Wellington Management Group LLP increased its position in shares of MacroGenics by 15.7% during the third quarter. Wellington Management Group LLP now owns 307,140 shares of the biopharmaceutical company’s stock valued at $1,010,000 after acquiring an additional 41,733 shares during the last quarter. Stifel Financial Corp raised its stake in shares of MacroGenics by 19.7% in the 3rd quarter. Stifel Financial Corp now owns 39,888 shares of the biopharmaceutical company’s stock valued at $131,000 after acquiring an additional 6,578 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of MacroGenics by 35.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 566,328 shares of the biopharmaceutical company’s stock worth $1,863,000 after purchasing an additional 147,438 shares during the period. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Stock Down 0.9 %

MGNX opened at $3.18 on Friday. The company has a market cap of $199.59 million, a PE ratio of -2.01 and a beta of 2.04. MacroGenics has a twelve month low of $2.95 and a twelve month high of $21.88. The company has a 50-day moving average price of $3.66 and a 200 day moving average price of $3.87.

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.