MacroGenics, Inc. (NASDAQ:MGNX) Receives $7.63 Consensus PT from Analysts

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been given an average recommendation of “Hold” by the eleven brokerages that are currently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $7.63.

A number of research analysts have recently issued reports on the stock. JMP Securities cut shares of MacroGenics from an “outperform” rating to a “market perform” rating in a report on Thursday, November 7th. HC Wainwright reissued a “neutral” rating and set a $4.00 price objective 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. Finally, StockNews.com upgraded MacroGenics from a “sell” rating to a “buy” rating in a research note on Sunday, November 10th.

MacroGenics Stock Performance

Shares of MacroGenics stock opened at $3.34 on Friday. MacroGenics has a 52 week low of $2.95 and a 52 week high of $21.88. The stock has a 50 day moving average price of $3.68 and a two-hundred day moving average price of $3.89. The stock has a market capitalization of $209.63 million, a PE ratio of -2.11 and a beta of 2.04.

Institutional Investors Weigh In On MacroGenics

A number of hedge funds have recently modified their holdings of the stock. XTX Topco Ltd bought a new position in MacroGenics during the third quarter valued at $37,000. China Universal Asset Management Co. Ltd. grew its stake in shares of MacroGenics by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 4,707 shares during the period. DRW Securities LLC purchased a new stake in MacroGenics in the 2nd quarter worth about $56,000. K2 Principal Fund L.P. bought a new stake in MacroGenics in the 2nd quarter valued at about $63,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in MacroGenics by 300.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,072 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 12,060 shares during the last quarter. 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.