HC Wainwright Reiterates “Neutral” Rating for MacroGenics (NASDAQ:MGNX)

MacroGenics (NASDAQ:MGNX)‘s stock had its “neutral” rating reaffirmed by HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $2.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 20.48% from the stock’s previous close.

MGNX has been the topic of several other research reports. Wall Street Zen cut shares of MacroGenics from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Barclays started coverage on shares of MacroGenics in a report on Wednesday, September 17th. They set an “overweight” rating and a $3.00 target price for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MacroGenics in a report on Wednesday, October 8th. Finally, Leerink Partners reduced their price objective on MacroGenics from $8.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MacroGenics has a consensus rating of “Hold” and a consensus target price of $3.60.

MacroGenics Trading Up 4.1%

Shares of NASDAQ:MGNX opened at $1.66 on Monday. The company has a 50 day moving average of $1.73 and a 200-day moving average of $1.60. The firm has a market cap of $104.92 million, a P/E ratio of -2.91 and a beta of 1.61. MacroGenics has a twelve month low of $0.99 and a twelve month high of $5.10.

MacroGenics (NASDAQ:MGNX) last announced its earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.02. The business had revenue of $22.24 million during the quarter, compared to analysts’ expectations of $28.06 million. MacroGenics had a negative return on equity of 40.24% and a negative net margin of 21.99%. Equities research analysts forecast that MacroGenics will post -1.06 EPS for the current year.

Insider Buying and Selling at MacroGenics

In other news, Director William K. Heiden acquired 49,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average price of $1.49 per share, for a total transaction of $73,755.00. Following the completion of the acquisition, the director owned 111,000 shares of the company’s stock, valued at approximately $165,390. This represents a 80.49% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MGNX. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of MacroGenics in the 3rd quarter valued at $353,000. SG Americas Securities LLC raised its stake in shares of MacroGenics by 55.9% in the 3rd quarter. SG Americas Securities LLC now owns 17,179 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 6,161 shares in the last quarter. State of Wyoming raised its stake in shares of MacroGenics by 41.8% in the 2nd quarter. State of Wyoming now owns 31,557 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 9,295 shares in the last quarter. Rangeley Capital LLC acquired a new stake in MacroGenics in the 2nd quarter worth approximately $33,000. Finally, EcoR1 Capital LLC bought a new stake in MacroGenics during the second quarter worth approximately $1,939,000. Institutional investors and hedge funds 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.