HC Wainwright Lowers MacroGenics (NASDAQ:MGNX) Price Target to $2.00

MacroGenics (NASDAQ:MGNX) had its price objective cut by HC Wainwright from $4.00 to $2.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

Separately, StockNews.com downgraded MacroGenics from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Nine analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.38.

MacroGenics Stock Performance

Shares of MGNX stock opened at $1.79 on Tuesday. The stock has a fifty day moving average price of $2.61 and a 200 day moving average price of $3.20. The stock has a market cap of $112.35 million, a PE ratio of -1.13 and a beta of 2.12. MacroGenics has a 1 year low of $1.76 and a 1 year high of $19.54.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. The firm had revenue of $49.40 million for the quarter, compared to analyst estimates of $34.17 million. As a group, equities research analysts predict that MacroGenics will post -1.06 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MGNX. Connor Clark & Lunn Investment Management Ltd. increased its stake in MacroGenics by 39.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 661,914 shares of the biopharmaceutical company’s stock valued at $2,178,000 after purchasing an additional 186,858 shares during the last quarter. Barclays PLC increased its stake in shares of MacroGenics by 97.1% during the 3rd quarter. Barclays PLC now owns 98,753 shares of the biopharmaceutical company’s stock valued at $325,000 after acquiring an additional 48,639 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of MacroGenics by 104.5% during the 4th quarter. SG Americas Securities LLC now owns 34,399 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 17,577 shares during the period. Stifel Financial Corp boosted its position in shares of MacroGenics by 19.7% in the third quarter. Stifel Financial Corp now owns 39,888 shares of the biopharmaceutical company’s stock worth $131,000 after acquiring an additional 6,578 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in 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 purchasing an additional 147,438 shares during the period. Hedge funds and other 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.