MacroGenics, Inc. (MGNX) Given Average Recommendation of “Hold” by Brokerages
MacroGenics, Inc. (NASDAQ:MGNX) has received a consensus recommendation of “Hold” from the fifteen analysts that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $31.56.
A number of equities analysts have weighed in on MGNX shares. Cowen and Company reiterated a “buy” rating on shares of MacroGenics in a research note on Wednesday, October 25th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $26.00 price objective on shares of MacroGenics in a research note on Friday, September 1st. Zacks Investment Research lowered MacroGenics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Wedbush reiterated an “outperform” rating and set a $44.00 price objective on shares of MacroGenics in a research note on Monday, September 11th. Finally, ValuEngine upgraded MacroGenics from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st.
MacroGenics (NASDAQ MGNX) traded down 1.26% during mid-day trading on Wednesday, reaching $19.54. The company had a trading volume of 160,118 shares. MacroGenics has a 52 week low of $14.36 and a 52 week high of $31.85. The stock’s 50-day moving average price is $17.78 and its 200 day moving average price is $18.18. The firm’s market capitalization is $719.03 million.
MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.05) by ($0.09). The firm had revenue of $1.70 million for the quarter, compared to analyst estimates of $15.82 million. MacroGenics had a negative return on equity of 56.81% and a negative net margin of 1,216.51%. The business’s revenue was down 97.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.12 EPS. On average, equities research analysts predict that MacroGenics will post ($4.41) EPS for the current year.
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In other news, SVP Jon Marc Wigginton sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the transaction, the senior vice president now directly owns 40,000 shares in the company, valued at approximately $800,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 8.30% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in MacroGenics in the second quarter valued at approximately $133,000. Legal & General Group Plc lifted its holdings in MacroGenics by 4.3% in the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock valued at $138,000 after acquiring an additional 328 shares during the last quarter. SG Americas Securities LLC lifted its holdings in MacroGenics by 92.2% in the second quarter. SG Americas Securities LLC now owns 10,812 shares of the biopharmaceutical company’s stock valued at $189,000 after acquiring an additional 5,187 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new position in MacroGenics in the second quarter valued at approximately $203,000. Finally, Virtu KCG Holdings LLC acquired a new position in MacroGenics in the second quarter valued at approximately $232,000. Institutional investors and hedge funds own 84.63% of the company’s stock.
MacroGenics Company Profile
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.
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