MacroGenics, Inc. (NASDAQ:MGNX) Given Consensus Rating of "Hold" by Brokerages

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) has received a consensus recommendation of "Hold" from the eleven brokerages that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $7.38.

A number of analysts have recently commented on the company. HC Wainwright cut their target price on MacroGenics from $4.00 to $2.00 and set a "neutral" rating on the stock in a research report on Tuesday. StockNews.com cut MacroGenics from a "buy" rating to a "hold" rating in a research note on Friday.

Institutional Investors Weigh In On MacroGenics

Several hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new position in MacroGenics during the 4th quarter worth $32,000. XTX Topco Ltd purchased a new stake in shares of MacroGenics in the third quarter valued at about $37,000. American Century Companies Inc. acquired a new position in shares of MacroGenics during the fourth quarter worth about $38,000. Sanders Morris Harris LLC purchased a new position in MacroGenics during the fourth quarter worth about $40,000. Finally, Jump Financial LLC acquired a new stake in MacroGenics in the fourth quarter valued at about $44,000. 96.89% of the stock is owned by institutional investors and hedge funds.

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MacroGenics Stock Performance

MGNX stock traded down $0.17 during midday trading on Friday, reaching $1.79. 1,165,007 shares of the company were exchanged, compared to its average volume of 1,157,001. The company has a market cap of $112.35 million, a price-to-earnings ratio of -1.13 and a beta of 2.12. MacroGenics has a 1-year low of $1.89 and a 1-year high of $19.54. The stock's 50-day simple moving average is $2.61 and its 200 day simple moving average is $3.20.

MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. The company had revenue of $49.40 million for the quarter, compared to analyst estimates of $34.17 million. On average, research analysts anticipate that MacroGenics will post -1.06 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.