MacroGenics, Inc. (NASDAQ:MGNX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $12.00.

Several brokerages have commented on MGNX. TD Cowen cut shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Barclays lowered their price objective on shares of MacroGenics from $25.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. HC Wainwright lowered their price objective on shares of MacroGenics from $16.00 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Stifel Nicolaus lowered shares of MacroGenics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $29.00 to $7.00 in a research note on Friday, May 10th. Finally, BMO Capital Markets lowered shares of MacroGenics from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $24.00 to $8.00 in a research note on Friday, May 10th.

Insider Activity at MacroGenics

In other MacroGenics news, VP Jeffrey Stuart Peters sold 51,395 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $15.55, for a total value of $799,192.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.30% of the stock is owned by company insiders.

Institutional Trading of MacroGenics

A number of institutional investors have recently bought and sold shares of MGNX. EntryPoint Capital LLC bought a new stake in shares of MacroGenics during the 1st quarter worth approximately $40,000. AJOVista LLC bought a new position in MacroGenics in the 4th quarter valued at approximately $51,000. CANADA LIFE ASSURANCE Co acquired a new position in MacroGenics in the 1st quarter valued at approximately $52,000. China Universal Asset Management Co. Ltd. increased its position in MacroGenics by 349.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company’s stock valued at $69,000 after acquiring an additional 5,577 shares during the period. Finally, Sound Income Strategies LLC acquired a new position in MacroGenics in the 1st quarter valued at approximately $77,000. Institutional investors own 96.89% of the company’s stock.

MacroGenics Price Performance

Shares of NASDAQ:MGNX opened at $4.37 on Friday. The company’s 50-day moving average price is $8.66 and its two-hundred day moving average price is $12.19. MacroGenics has a one year low of $3.14 and a one year high of $21.88. The stock has a market capitalization of $273.69 million, a PE ratio of -11.21 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 the consensus estimate of ($0.67) by ($0.17). MacroGenics had a negative return on equity of 98.01% and a negative net margin of 53.60%. The business had revenue of $9.10 million for the quarter, compared to the consensus estimate of $13.63 million. On average, analysts anticipate that MacroGenics will post -3.04 earnings per share for the current fiscal year.

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.