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

MacroGenics, Inc. (NASDAQ:MGNX) has received a consensus recommendation of “Hold” from the seven analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $5.50.

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

MacroGenics Stock Performance

NASDAQ:MGNX opened at $3.96 on Friday. The stock’s fifty day moving average is $3.68 and its 200 day moving average is $2.54. MacroGenics has a fifty-two week low of $1.18 and a fifty-two week high of $4.64. The firm has a market capitalization of $251.70 million, a PE ratio of -3.60 and a beta of 1.18.

MacroGenics (NASDAQ:MGNX) last released 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 net margin of 44.79% and a negative return on equity of 147.80%. The company had revenue of $20.78 million for the quarter, compared to analysts’ expectations of $15.24 million. Equities analysts forecast that MacroGenics will post -1.76 EPS for the current year.

Hedge Funds Weigh In On MacroGenics

Hedge funds have recently bought and sold shares of the business. R Squared Ltd bought a new position in MacroGenics in the 4th quarter valued at $26,000. Engineers Gate Manager LP bought a new position in MacroGenics in the 2nd quarter valued at $28,000. Walleye Capital LLC bought a new position in MacroGenics in the 2nd quarter valued at $30,000. Cresset Asset Management LLC grew its position in MacroGenics by 52.3% in the 2nd quarter. Cresset Asset Management LLC now owns 26,720 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 9,172 shares during the last quarter. Finally, Rangeley Capital LLC bought a new position in MacroGenics in the 2nd quarter valued at $33,000. Institutional investors own 96.89% of the company’s stock.

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.