Brokerages Set MacroGenics, Inc. (NASDAQ:MGNX) Target Price at $7.63

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) has been assigned an average recommendation of "Hold" from the eleven analysts that are covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $7.38.

MGNX has been the topic of several recent research reports. HC Wainwright decreased their price target on shares of MacroGenics from $4.00 to $2.00 and set a "neutral" rating on the stock in a research report on Tuesday. StockNews.com lowered shares of MacroGenics from a "buy" rating to a "hold" rating in a report on Friday.

MacroGenics Stock Down 7.4 %

Shares of NASDAQ:MGNX traded down $0.15 during trading on Friday, hitting $1.82. The stock had a trading volume of 265,906 shares, compared to its average volume of 1,155,628. The company has a market capitalization of $113.91 million, a PE ratio of -1.15 and a beta of 2.12. The firm's fifty day moving average is $2.63 and its 200 day moving average is $3.21. MacroGenics has a 12 month low of $1.89 and a 12 month high of $19.54.

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MacroGenics (NASDAQ:MGNX - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $34.17 million. Equities research analysts expect that MacroGenics will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

Several hedge funds have recently made changes to their positions in MGNX. Wellington Management Group LLP boosted its position in shares of MacroGenics by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 323,857 shares of the biopharmaceutical company's stock worth $1,053,000 after purchasing an additional 16,717 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its stake in shares of MacroGenics by 5.5% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,175,665 shares of the biopharmaceutical company's stock worth $10,321,000 after buying an additional 164,938 shares during the period. Two Sigma Advisers LP raised its stake in MacroGenics by 7.1% in the 4th quarter. Two Sigma Advisers LP now owns 1,118,600 shares of the biopharmaceutical company's stock worth $3,635,000 after acquiring an additional 74,596 shares during the last quarter. ProShare Advisors LLC raised its position in MacroGenics by 32.4% during the fourth quarter. ProShare Advisors LLC now owns 20,284 shares of the biopharmaceutical company's stock valued at $66,000 after acquiring an additional 4,963 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of MacroGenics during the 4th quarter worth approximately $32,000. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

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.