Brokerages Set MacroGenics, Inc. (NASDAQ:MGNX) PT at $8.11

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have earned an average recommendation of “Hold” from the eleven analysts that are covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $8.11.

Several equities analysts recently commented on MGNX shares. JMP Securities dropped their target price on MacroGenics from $16.00 to $8.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 31st. StockNews.com lowered MacroGenics from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. BMO Capital Markets lowered their price target on MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. HC Wainwright reissued a “neutral” rating and set a $4.00 price objective on shares of MacroGenics in a report on Wednesday, September 18th. Finally, Guggenheim cut shares of MacroGenics from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st.

Institutional Investors Weigh In On MacroGenics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of MacroGenics in the third quarter valued at approximately $55,000. Frazier Life Sciences Management L.P. increased its stake in MacroGenics by 21.8% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,010,727 shares of the biopharmaceutical company’s stock valued at $12,796,000 after buying an additional 539,023 shares during the period. Susquehanna Fundamental Investments LLC raised its position in MacroGenics by 22.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 129,996 shares of the biopharmaceutical company’s stock worth $552,000 after buying an additional 24,209 shares during the last quarter. Millennium Management LLC lifted its stake in shares of MacroGenics by 3,473.7% in the 2nd quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock worth $14,079,000 after acquiring an additional 3,219,977 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of MacroGenics by 74.5% in the second quarter. AQR Capital Management LLC now owns 143,161 shares of the biopharmaceutical company’s stock valued at $608,000 after acquiring an additional 61,131 shares in the last quarter. 96.89% of the stock is owned by hedge funds and other institutional investors.

MacroGenics Price Performance

MGNX stock opened at $3.55 on Tuesday. The business’s 50-day moving average is $3.59 and its two-hundred day moving average is $7.24. The firm has a market capitalization of $222.35 million, a P/E ratio of -9.21 and a beta of 2.09. MacroGenics has a 1 year low of $2.95 and a 1 year high of $21.88.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). MacroGenics had a negative return on equity of 146.01% and a negative net margin of 332.47%. The firm had revenue of $10.80 million during the quarter, compared to analysts’ expectations of $24.14 million. On average, analysts expect that MacroGenics will post -1.72 EPS for the current year.

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.