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

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have received a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $3.60.

Several brokerages have weighed in on MGNX. Barclays initiated coverage on shares of MacroGenics in a report on Wednesday, September 17th. They set an “overweight” rating and a $3.00 price objective for the company. Weiss Ratings restated a “sell (e+)” rating on shares of MacroGenics in a research note on Wednesday, October 8th. Leerink Partners decreased their price target on MacroGenics from $8.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, August 15th. HC Wainwright restated a “neutral” rating and issued a $2.00 price target on shares of MacroGenics in a research report on Monday, November 3rd. Finally, Wall Street Zen cut MacroGenics from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd.

Insider Transactions at MacroGenics

In other MacroGenics news, Director William K. Heiden acquired 49,500 shares of MacroGenics stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average cost of $1.49 per share, with a total value of $73,755.00. Following the purchase, the director owned 111,000 shares in the company, valued at approximately $165,390. The trade was a 80.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 13.00% of the company’s stock.

Hedge Funds Weigh In On MacroGenics

Several hedge funds have recently bought and sold shares of the business. Quadrature Capital Ltd acquired a new position in shares of MacroGenics during the 2nd quarter valued at about $26,000. State of Wyoming bought a new stake in MacroGenics during the first quarter worth approximately $28,000. Engineers Gate Manager LP acquired a new position in MacroGenics during the second quarter valued at approximately $28,000. SG Americas Securities LLC grew its holdings in MacroGenics by 55.9% during the third quarter. SG Americas Securities LLC now owns 17,179 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 6,161 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in shares of MacroGenics in the second quarter valued at approximately $30,000. 96.89% of the stock is owned by institutional investors and hedge funds.

MacroGenics Stock Performance

Shares of NASDAQ MGNX opened at $1.37 on Friday. The firm has a market cap of $86.59 million, a P/E ratio of -2.40 and a beta of 1.55. MacroGenics has a 1 year low of $0.99 and a 1 year high of $4.54. The firm’s 50 day moving average price is $1.70 and its 200 day moving average price is $1.60.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.02. MacroGenics had a negative return on equity of 40.24% and a negative net margin of 21.99%.The firm had revenue of $22.24 million for the quarter, compared to analysts’ expectations of $28.06 million. As a group, equities analysts predict that MacroGenics will post -1.06 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.