MacroGenics (NASDAQ:MGNX) Research Coverage Started at B. Riley

B. Riley initiated coverage on shares of MacroGenics (NASDAQ:MGNX) in a report issued on Friday, MarketBeat reports. The firm issued a buy rating and a $25.00 price target on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Barclays increased their price target on shares of MacroGenics from $12.00 to $23.00 and gave the stock an overweight rating in a report on Thursday, February 29th. TD Cowen upgraded shares of MacroGenics from a hold rating to a buy rating in a research report on Tuesday, April 9th. HC Wainwright downgraded MacroGenics from a buy rating to a neutral rating and increased their price objective for the stock from $12.00 to $14.00 in a research report on Wednesday, February 14th. JMP Securities restated a market outperform rating on shares of MacroGenics in a research report on Thursday, April 4th. Finally, TheStreet lowered MacroGenics from a c rating to a d rating in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $18.00.

MacroGenics Trading Up 1.3 %

MacroGenics stock opened at $14.56 on Friday. The firm has a 50 day simple moving average of $16.68 and a 200 day simple moving average of $12.07. MacroGenics has a 1-year low of $4.29 and a 1-year high of $21.88. The firm has a market capitalization of $910.89 million, a price-to-earnings ratio of -91.00 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.49). The company had revenue of $10.72 million during the quarter, compared to analysts’ expectations of $25.70 million. MacroGenics had a negative net margin of 15.42% and a negative return on equity of 88.49%. During the same quarter last year, the firm posted $0.21 earnings per share. On average, equities research analysts forecast that MacroGenics will post -2.7 EPS for the current year.

Insider Activity at MacroGenics

In other MacroGenics news, SVP Ezio Bonvini sold 13,316 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $15.00, for a total value of $199,740.00. Following the completion of the sale, the senior vice president now owns 74,668 shares of the company’s stock, valued at $1,120,020. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Ezio Bonvini sold 13,316 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $15.00, for a total value of $199,740.00. Following the completion of the sale, the senior vice president now directly owns 74,668 shares in the company, valued at approximately $1,120,020. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jeffrey Stuart Peters sold 51,395 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $15.55, for a total transaction of $799,192.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,835 shares of company stock valued at $1,276,588. Corporate insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in MacroGenics during the 3rd quarter worth approximately $97,000. Strs Ohio increased its stake in shares of MacroGenics by 59.7% in the third quarter. Strs Ohio now owns 112,400 shares of the biopharmaceutical company’s stock worth $523,000 after buying an additional 42,000 shares during the period. Principal Financial Group Inc. raised its holdings in MacroGenics by 0.9% during the 3rd quarter. Principal Financial Group Inc. now owns 275,550 shares of the biopharmaceutical company’s stock valued at $1,284,000 after buying an additional 2,335 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in MacroGenics during the 3rd quarter valued at $281,000. Finally, Barclays PLC grew its holdings in MacroGenics by 15.2% in the 3rd quarter. Barclays PLC now owns 134,273 shares of the biopharmaceutical company’s stock worth $624,000 after acquiring an additional 17,733 shares during the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.

About MacroGenics

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.