MacroGenics, Inc. (NASDAQ:MGNX) Receives $3.60 Consensus Price Target from Analysts

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been given a consensus rating of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $3.60.

Several equities analysts have recently commented on the stock. Barclays assumed coverage on shares of MacroGenics in a report on Wednesday, September 17th. They issued an “overweight” rating and a $3.00 price objective on the stock. Leerink Partners cut their target price on shares of MacroGenics from $8.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, August 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MacroGenics in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd.

Insiders Place Their Bets

In other news, Director William K. Heiden acquired 49,500 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were bought at an average cost of $1.49 per share, with a total value of $73,755.00. Following the transaction, the director owned 111,000 shares in the company, valued at approximately $165,390. This trade represents a 80.49% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MacroGenics

Large investors have recently modified their holdings of the company. Quadrature Capital Ltd purchased a new stake in shares of MacroGenics in the 2nd quarter valued at approximately $26,000. State of Wyoming purchased a new stake in shares of MacroGenics in the 1st quarter valued at approximately $28,000. Engineers Gate Manager LP purchased a new stake in shares of MacroGenics in the 2nd quarter valued at approximately $28,000. Walleye Capital LLC purchased a new stake in shares of MacroGenics in the 2nd quarter valued at approximately $30,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of MacroGenics by 261.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 25,982 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 18,800 shares during the last quarter. 96.89% of the stock is owned by hedge funds and other institutional investors.

MacroGenics Stock Performance

Shares of MGNX stock opened at $1.64 on Tuesday. The firm’s 50 day moving average price is $1.67 and its 200-day moving average price is $1.54. MacroGenics has a one year low of $0.99 and a one year high of $5.10. The firm has a market cap of $103.66 million, a P/E ratio of -2.88 and a beta of 1.61.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.02. MacroGenics had a negative net margin of 21.99% and a negative return on equity of 40.24%. The firm had revenue of $22.24 million for the quarter, compared to analyst estimates of $28.06 million. As a group, research analysts predict that MacroGenics will post -1.06 EPS for the current fiscal 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.