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

MacroGenics, Inc. (NASDAQ:MGNX) has been given an average rating of “Hold” by the eleven research firms that are covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $8.11.

MGNX has been the topic of a number of research analyst reports. BTIG Research downgraded MacroGenics from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. HC Wainwright reissued a “neutral” rating and issued a $4.00 price target on shares of MacroGenics in a report on Wednesday, September 18th. StockNews.com downgraded MacroGenics from a “hold” rating to a “sell” rating in a research note on Saturday. JMP Securities cut their target price on MacroGenics from $16.00 to $8.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 31st. Finally, BMO Capital Markets lowered their price target on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th.

Hedge Funds Weigh In On MacroGenics

Several large investors have recently bought and sold shares of the stock. Avoro Capital Advisors LLC acquired a new position in MacroGenics during the 1st quarter valued at about $90,528,000. Armistice Capital LLC boosted its position in shares of MacroGenics by 150.0% during the 2nd quarter. Armistice Capital LLC now owns 6,000,000 shares of the biopharmaceutical company’s stock valued at $25,500,000 after purchasing an additional 3,600,000 shares in the last quarter. Millennium Management LLC boosted its position in shares of MacroGenics by 3,473.7% during the 2nd quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock valued at $14,079,000 after purchasing an additional 3,219,977 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its position in shares of MacroGenics by 21.8% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,010,727 shares of the biopharmaceutical company’s stock valued at $12,796,000 after purchasing an additional 539,023 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of MacroGenics by 8,361.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,438,050 shares of the biopharmaceutical company’s stock valued at $35,889,000 after purchasing an additional 2,409,237 shares in the last quarter. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Stock Up 5.7 %

Shares of NASDAQ MGNX opened at $3.87 on Friday. MacroGenics has a fifty-two week low of $2.95 and a fifty-two week high of $21.88. The business has a 50 day moving average price of $3.55 and a two-hundred day moving average price of $5.45. The firm has a market cap of $242.73 million, a PE ratio of -1.76 and a beta of 2.08.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). MacroGenics had a negative return on equity of 146.01% and a negative net margin of 332.47%. The firm had revenue of $10.80 million for the quarter, compared to the consensus estimate of $24.14 million. On average, analysts anticipate that MacroGenics will post -1.72 earnings per share for the current year.

MacroGenics Company Profile

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.