MacroGenics, Inc. (NASDAQ:MGNX) Given Average Rating of “Hold” by Analysts

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have earned an average recommendation of “Hold” from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $5.71.

A number of equities research analysts have issued reports on MGNX shares. Barclays reissued an “overweight” rating and set a $3.00 target price (down previously from $8.00) on shares of MacroGenics in a report on Wednesday, May 14th. Wall Street Zen raised MacroGenics from a “sell” rating to a “hold” rating in a report on Saturday. HC Wainwright reduced their target price on MacroGenics from $4.00 to $2.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th. B. Riley decreased their price target on MacroGenics from $5.00 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 20th. Finally, Stifel Nicolaus lowered their price target on shares of MacroGenics from $6.00 to $5.00 and set a “hold” rating on the stock in a report on Wednesday, May 14th.

MacroGenics Stock Up 22.8%

NASDAQ MGNX opened at $1.78 on Wednesday. The company has a market cap of $112.30 million, a PE ratio of -1.13 and a beta of 1.65. MacroGenics has a 52 week low of $0.99 and a 52 week high of $5.77. The firm’s 50-day simple moving average is $1.45 and its two-hundred day simple moving average is $2.35.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.04). The business had revenue of $13.19 million during the quarter, compared to the consensus estimate of $9.59 million. MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. As a group, equities research analysts anticipate that MacroGenics will post -1.06 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. State of Wyoming bought a new stake in MacroGenics during the first quarter valued at approximately $28,000. Lazard Asset Management LLC bought a new stake in shares of MacroGenics during the 4th quarter worth $32,000. American Century Companies Inc. bought a new stake in shares of MacroGenics during the 4th quarter worth $38,000. Jump Financial LLC purchased a new position in MacroGenics in the fourth quarter worth $44,000. Finally, Deutsche Bank AG increased its stake in MacroGenics by 3,803.2% in the first quarter. Deutsche Bank AG now owns 51,093 shares of the biopharmaceutical company’s stock valued at $65,000 after acquiring an additional 49,784 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.