MacroGenics, Inc. (NASDAQ:MGNX) Receives Consensus Rating of “Hold” from Analysts

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been assigned an average recommendation of “Hold” from the eleven research firms that are currently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $8.11.

MGNX has been the topic of a number of recent analyst reports. Evercore ISI upgraded MacroGenics to a “strong-buy” rating in a research report on Monday, September 16th. Citigroup decreased their target price on MacroGenics from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. BTIG Research cut MacroGenics from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. BMO Capital Markets decreased their target price on MacroGenics from $8.00 to $5.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded MacroGenics from a “sell” rating to a “hold” rating in a report on Friday.

MacroGenics Stock Performance

Shares of NASDAQ MGNX opened at $3.49 on Friday. MacroGenics has a 52 week low of $2.95 and a 52 week high of $21.88. The stock has a market capitalization of $218.89 million, a P/E ratio of -1.59 and a beta of 2.08. The stock’s fifty day moving average is $3.54 and its 200 day moving average is $5.94.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) 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 company had revenue of $10.80 million during the quarter, compared to the consensus estimate of $24.14 million. Equities research analysts forecast that MacroGenics will post -1.72 earnings per share for the current year.

Hedge Funds Weigh In On MacroGenics

A number of hedge funds and other institutional investors have recently made changes to their positions in MGNX. Diversified Trust Co lifted its stake in shares of MacroGenics by 16.0% in the first quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock worth $201,000 after acquiring an additional 1,880 shares during the period. Principal Financial Group Inc. lifted its stake in shares of MacroGenics by 28.6% in the first quarter. Principal Financial Group Inc. now owns 344,603 shares of the biopharmaceutical company’s stock worth $5,073,000 after acquiring an additional 76,727 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of MacroGenics by 15.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,060 shares of the biopharmaceutical company’s stock worth $840,000 after acquiring an additional 7,723 shares during the period. Swiss National Bank acquired a new position in shares of MacroGenics in the first quarter worth approximately $1,351,000. Finally, Susquehanna Fundamental Investments LLC lifted its stake in shares of MacroGenics by 597.4% in the first quarter. Susquehanna Fundamental Investments LLC now owns 105,787 shares of the biopharmaceutical company’s stock worth $1,557,000 after acquiring an additional 90,619 shares during the period. 96.89% of the stock is owned by institutional investors and hedge funds.

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.