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

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been given an average recommendation of “Hold” by the seven ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $5.50.

Several research analysts have weighed in on the company. Barclays upped their price target on MacroGenics from $4.00 to $6.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MacroGenics in a report on Friday, May 8th. B. Riley Financial raised MacroGenics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $3.00 to $9.00 in a report on Friday, April 10th. Citigroup reaffirmed a “market perform” rating on shares of MacroGenics in a report on Tuesday, February 24th. Finally, Wall Street Zen raised MacroGenics from a “sell” rating to a “hold” rating in a report on Saturday, March 14th.

MacroGenics Price Performance

MGNX stock opened at $3.96 on Friday. MacroGenics has a 1-year low of $1.18 and a 1-year high of $4.64. The company has a market capitalization of $251.70 million, a price-to-earnings ratio of -3.60 and a beta of 1.18. The business has a 50 day simple moving average of $3.68 and a two-hundred day simple moving average of $2.54.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.01). MacroGenics had a negative return on equity of 147.80% and a negative net margin of 44.79%.The business had revenue of $20.78 million during the quarter, compared to the consensus estimate of $15.24 million. Sell-side analysts anticipate that MacroGenics will post -1.76 EPS for the current fiscal year.

Institutional Trading of MacroGenics

Several hedge funds have recently modified their holdings of MGNX. Jefferies Financial Group Inc. purchased a new stake in shares of MacroGenics during the 4th quarter worth approximately $2,964,000. Renaissance Technologies LLC raised its holdings in shares of MacroGenics by 71.0% during the 4th quarter. Renaissance Technologies LLC now owns 2,908,631 shares of the biopharmaceutical company’s stock worth $4,683,000 after acquiring an additional 1,207,408 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of MacroGenics by 104.0% during the 4th quarter. Marshall Wace LLP now owns 1,284,563 shares of the biopharmaceutical company’s stock worth $2,068,000 after acquiring an additional 655,028 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of MacroGenics by 30.7% during the 1st quarter. Bank of America Corp DE now owns 2,401,814 shares of the biopharmaceutical company’s stock worth $6,941,000 after acquiring an additional 564,094 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of MacroGenics by 207.7% during the 2nd quarter. Jane Street Group LLC now owns 758,204 shares of the biopharmaceutical company’s stock worth $917,000 after acquiring an additional 511,777 shares in the last quarter. 96.89% of the stock is owned by hedge funds and other institutional investors.

MacroGenics Company Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.