Brokerages Set MacroGenics, Inc. (NASDAQ:MGNX) PT at $17.00

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have received a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $17.00.

A number of analysts have weighed in on MGNX shares. Citigroup upgraded shares of MacroGenics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $7.00 to $13.00 in a research note on Wednesday, December 20th. BTIG Research raised their price target on shares of MacroGenics from $12.00 to $24.00 and gave the company a “buy” rating in a report on Monday, March 4th. HC Wainwright downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating and raised their price target for the company from $12.00 to $14.00 in a report on Wednesday, February 14th. Barclays raised their price target on shares of MacroGenics from $12.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, TD Cowen raised shares of MacroGenics from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th.

Insiders Place Their Bets

In other news, VP Jeffrey Stuart Peters sold 51,395 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $15.55, for a total transaction of $799,192.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related 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 sale, the senior vice president now owns 74,668 shares in the company, valued at $1,120,020. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jeffrey Stuart Peters sold 51,395 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $15.55, for a total value of $799,192.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,151 shares of company stock worth $1,436,380. Company insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On MacroGenics

A number of large investors have recently bought and sold shares of MGNX. Millennium Management LLC boosted its position in MacroGenics by 68.0% in the second quarter. Millennium Management LLC now owns 2,609,562 shares of the biopharmaceutical company’s stock valued at $7,698,000 after buying an additional 1,055,927 shares during the last quarter. JPMorgan Chase & Co. boosted its position in MacroGenics by 517.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,249,992 shares of the biopharmaceutical company’s stock worth $6,687,000 after purchasing an additional 1,047,650 shares in the last quarter. Citadel Advisors LLC boosted its position in MacroGenics by 910.9% in the 2nd quarter. Citadel Advisors LLC now owns 1,092,449 shares of the biopharmaceutical company’s stock worth $3,222,000 after purchasing an additional 984,387 shares in the last quarter. Renaissance Technologies LLC boosted its position in MacroGenics by 144.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,430,923 shares of the biopharmaceutical company’s stock worth $4,221,000 after purchasing an additional 845,211 shares in the last quarter. Finally, State Street Corp boosted its position in MacroGenics by 21.7% in the 1st quarter. State Street Corp now owns 3,544,724 shares of the biopharmaceutical company’s stock worth $31,229,000 after purchasing an additional 632,054 shares in the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.

MacroGenics Stock Performance

NASDAQ:MGNX opened at $16.94 on Tuesday. The firm has a market cap of $1.06 billion, a P/E ratio of -105.88 and a beta of 2.10. MacroGenics has a fifty-two week low of $4.29 and a fifty-two week high of $21.88. The firm has a 50-day simple moving average of $17.01 and a two-hundred day simple moving average of $11.38.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.49). The firm had revenue of $10.72 million for the quarter, compared to the consensus estimate 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 in the prior year, the business posted $0.21 earnings per share. On average, equities research analysts predict that MacroGenics will post -2.7 EPS 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.