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

MacroGenics, Inc. (NASDAQ:MGNX) has been given an average recommendation of “Hold” by the eleven analysts that are covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $7.38.

Several research firms recently issued reports on MGNX. HC Wainwright reduced their price target on MacroGenics from $4.00 to $2.00 and set a “neutral” rating on the stock in a research report on Tuesday. StockNews.com downgraded shares of MacroGenics from a “buy” rating to a “hold” rating in a research note on Friday, March 21st.

MacroGenics Trading Down 8.7 %

Shares of NASDAQ MGNX opened at $1.79 on Friday. The stock’s 50-day moving average is $2.61 and its 200 day moving average is $3.20. The stock has a market cap of $112.35 million, a price-to-earnings 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 announced its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The business had revenue of $49.40 million during the quarter, compared to analysts’ expectations of $34.17 million. MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. On average, analysts forecast that MacroGenics will post -1.06 EPS for the current fiscal year.

Institutional Trading of MacroGenics

A number of hedge funds have recently modified their holdings of MGNX. Wasatch Advisors LP grew its holdings in MacroGenics by 37.6% in the fourth quarter. Wasatch Advisors LP now owns 3,488,493 shares of the biopharmaceutical company’s stock worth $11,338,000 after purchasing an additional 952,691 shares during the period. Frazier Life Sciences Management L.P. boosted its holdings in MacroGenics by 5.5% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,175,665 shares of the biopharmaceutical company’s stock worth $10,321,000 after acquiring an additional 164,938 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of MacroGenics by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,433,217 shares of the biopharmaceutical company’s stock valued at $4,659,000 after acquiring an additional 26,341 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of MacroGenics by 7.1% in the 4th quarter. Two Sigma Advisers LP now owns 1,118,600 shares of the biopharmaceutical company’s stock worth $3,635,000 after purchasing an additional 74,596 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in MacroGenics during the 4th quarter valued at about $2,787,000. 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.