MacroGenics Stock Price Up 5.2% After Analyst Upgrade (MGNX)
Shares of MacroGenics (NASDAQ:MGNX) rose 5.2% during mid-day trading on Tuesday after Leerink Swann raised their price target on the stock from $34.00 to $52.00, StockRatingsNetwork reports. Leerink Swann currently has an outperform rating on the stock. MacroGenics traded as high as $37.35 and last traded at $37.14, with a volume of 157,936 shares traded. The stock had previously closed at $35.30.
A number of other analysts have also recently weighed in on MGNX. Analysts at Bank of America upgraded shares of MacroGenics from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 18th. They now have a $50.00 price target on the stock, up previously from $30.00. Analysts at Wedbush initiated coverage on shares of MacroGenics in a research note on Tuesday, December 3rd. They set an “outperform” rating and a $70.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average price target of $51.75.
In other MacroGenics news, Director Edward Hurwitz sold 308,513 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $36.50, for a total value of $11,260,724.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
The stock has a 50-day moving average of $36.46 and a 200-day moving average of $29.99. The company has a market cap of $1.002 billion and a price-to-earnings ratio of 96.98.
MacroGenics, Inc is a clinical-stage biopharmaceutical company. The Company focuses on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer and autoimmune diseases.
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