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

MacroGenics, Inc. (NASDAQ:MGNX) has received a consensus rating of “Hold” from the eleven research firms that are presently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $7.63.

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

MacroGenics Stock Performance

Shares of MGNX opened at $3.35 on Thursday. MacroGenics has a 52-week low of $2.95 and a 52-week high of $21.88. The firm has a market cap of $210.26 million, a price-to-earnings ratio of -2.12 and a beta of 2.04. The business’s fifty day moving average is $3.51 and its 200-day moving average is $3.75.

Hedge Funds Weigh In On MacroGenics

Several large investors have recently modified their holdings of MGNX. Barclays PLC grew its stake in shares of MacroGenics by 97.1% in the third 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 acquired a new position in MacroGenics during the 3rd quarter worth about $37,000. Wellington Management Group LLP lifted its holdings in MacroGenics by 15.7% during the 3rd quarter. Wellington Management Group LLP now owns 307,140 shares of the biopharmaceutical company’s stock worth $1,010,000 after buying an additional 41,733 shares during the period. Stifel Financial Corp grew its position 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 buying an additional 6,578 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of MacroGenics by 35.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 566,328 shares of the biopharmaceutical company’s stock valued at $1,863,000 after buying an additional 147,438 shares during the period. Institutional investors own 96.89% of the company’s stock.

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.