MacroGenics Inc (MGNX) Receives Average Recommendation of “Hold” from Brokerages

MacroGenics Inc (NASDAQ:MGNX) has received a consensus rating of “Hold” from the fourteen research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $32.63.

Several equities research analysts recently weighed in on the company. Cowen restated a “buy” rating on shares of MacroGenics in a research report on Wednesday, January 24th. BidaskClub upgraded MacroGenics from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 25th. Zacks Investment Research lowered MacroGenics from a “hold” rating to a “sell” rating in a research report on Tuesday. SunTrust Banks restated a “buy” rating and set a $31.00 price target on shares of MacroGenics in a research report on Tuesday, January 23rd. Finally, BTIG Research restated a “buy” rating and set a $28.00 price target on shares of MacroGenics in a research report on Tuesday, January 23rd.

Shares of MacroGenics (MGNX) traded up $0.17 during mid-day trading on Friday, hitting $22.53. The stock had a trading volume of 193,997 shares, compared to its average volume of 232,105. The company has a market cap of $832.93, a price-to-earnings ratio of -5.00 and a beta of 2.80. MacroGenics has a 12-month low of $14.36 and a 12-month high of $23.90.

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

In other MacroGenics news, SVP Jon Marc Wigginton sold 5,000 shares of MacroGenics stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $20.00, for a total transaction of $100,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eric Blasius Risser sold 3,000 shares of MacroGenics stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $22.50, for a total value of $67,500.00. Following the transaction, the senior vice president now owns 12,100 shares of the company’s stock, valued at approximately $272,250. The disclosure for this sale can be found here. Insiders have sold 13,000 shares of company stock valued at $267,500 in the last quarter. 8.30% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in MGNX. Wasatch Advisors Inc. raised its stake in MacroGenics by 5,159.3% during the second quarter. Wasatch Advisors Inc. now owns 1,044,243 shares of the biopharmaceutical company’s stock valued at $18,285,000 after buying an additional 1,024,388 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in MacroGenics by 38.3% during the third quarter. Pinnacle Associates Ltd. now owns 843,175 shares of the biopharmaceutical company’s stock valued at $15,582,000 after buying an additional 233,657 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in MacroGenics by 314.8% during the second quarter. Dimensional Fund Advisors LP now owns 180,739 shares of the biopharmaceutical company’s stock valued at $3,165,000 after buying an additional 137,167 shares during the last quarter. Sphera Funds Management LTD. raised its stake in MacroGenics by 157.0% during the third quarter. Sphera Funds Management LTD. now owns 208,700 shares of the biopharmaceutical company’s stock valued at $3,857,000 after buying an additional 127,500 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in MacroGenics by 8.9% during the third quarter. Point72 Asset Management L.P. now owns 1,181,317 shares of the biopharmaceutical company’s stock valued at $21,831,000 after buying an additional 96,900 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

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About MacroGenics

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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