BTIG Research Reiterates “Buy” Rating for MacroGenics (MGNX)

MacroGenics (NASDAQ:MGNX)‘s stock had its “buy” rating reaffirmed by equities research analysts at BTIG Research in a research note issued on Tuesday. They currently have a $28.00 price objective on the biopharmaceutical company’s stock. BTIG Research’s price target would suggest a potential upside of 44.18% from the stock’s previous close.

MGNX has been the subject of several other research reports. Zacks Investment Research downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Cowen reissued a “buy” rating on shares of MacroGenics in a research report on Wednesday, October 25th. Citigroup lifted their price target on shares of MacroGenics from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, November 10th. ValuEngine downgraded shares of MacroGenics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 14th. Finally, Raymond James Financial reissued a “buy” rating on shares of MacroGenics in a research report on Monday, December 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. MacroGenics has an average rating of “Buy” and a consensus target price of $30.10.

Shares of MacroGenics (NASDAQ MGNX) opened at $19.42 on Tuesday. The firm has a market cap of $706.63, a price-to-earnings ratio of -4.32 and a beta of 2.73. MacroGenics has a one year low of $14.36 and a one year high of $22.31.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.19). The company had revenue of $1.70 million during the quarter, compared to the consensus estimate of $5.50 million. MacroGenics had a negative net margin of 1,526.55% and a negative return on equity of 69.31%. The business’s revenue was down 48.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.97) EPS. equities analysts expect that MacroGenics will post -0.7 earnings per share for the current year.

In related news, SVP Jon Marc Wigginton sold 5,000 shares of MacroGenics stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the sale, the senior vice president now owns 35,000 shares of the company’s stock, valued at approximately $700,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 20,000 shares of company stock valued at $400,000. 8.30% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Cornerstone Capital Management Holdings LLC. boosted its holdings in MacroGenics by 43.9% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 33,438 shares of the biopharmaceutical company’s stock worth $617,000 after acquiring an additional 10,200 shares during the last quarter. GAM Holding AG boosted its holdings in MacroGenics by 118.3% during the 4th quarter. GAM Holding AG now owns 63,100 shares of the biopharmaceutical company’s stock worth $1,954,000 after acquiring an additional 34,200 shares during the last quarter. Numeric Investors LLC boosted its holdings in MacroGenics by 58.5% during the 4th quarter. Numeric Investors LLC now owns 362,331 shares of the biopharmaceutical company’s stock worth $11,221,000 after acquiring an additional 133,756 shares during the last quarter. Emerald Advisers Inc. PA boosted its holdings in shares of MacroGenics by 13.5% in the 3rd quarter. Emerald Advisers Inc. PA now owns 409,942 shares of the biopharmaceutical company’s stock worth $12,261,000 after buying an additional 48,799 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of MacroGenics by 0.6% in the 2nd quarter. Jennison Associates LLC now owns 189,970 shares of the biopharmaceutical company’s stock worth $3,326,000 after buying an additional 1,062 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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