Analysts Set MacroGenics, Inc. (NASDAQ:MGNX) PT at $7.63

Shares of MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) have been assigned an average recommendation of "Hold" from the eleven analysts that are currently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $7.63.

A number of analysts have weighed in on the stock. Barclays cut their target price on shares of MacroGenics from $14.00 to $9.00 and set an "overweight" rating on the stock in a research report on Monday, July 29th. JMP Securities downgraded MacroGenics from an "outperform" rating to a "market perform" rating in a research note on Thursday, November 7th. BTIG Research lowered MacroGenics from a "buy" rating to a "neutral" rating in a research note on Thursday, August 1st. Citigroup decreased their price objective on shares of MacroGenics from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Finally, StockNews.com raised MacroGenics from a "sell" rating to a "buy" rating in a research report on Sunday, November 10th.

Hedge Funds Weigh In On MacroGenics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of MacroGenics by 97.1% in the third quarter. Barclays PLC now owns 98,753 shares of the biopharmaceutical company's stock worth $325,000 after purchasing an additional 48,639 shares during the last quarter. XTX Topco Ltd purchased a new position in MacroGenics in the 3rd quarter worth about $37,000. Wellington Management Group LLP lifted its stake in MacroGenics by 15.7% during the 3rd quarter. Wellington Management Group LLP now owns 307,140 shares of the biopharmaceutical company's stock valued at $1,010,000 after acquiring an additional 41,733 shares during the period. Stifel Financial Corp boosted its holdings in shares of MacroGenics by 19.7% during the 3rd quarter. Stifel Financial Corp now owns 39,888 shares of the biopharmaceutical company's stock valued at $131,000 after acquiring an additional 6,578 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in MacroGenics by 35.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 566,328 shares of the biopharmaceutical company's stock worth $1,863,000 after purchasing an additional 147,438 shares during the last quarter. 96.89% of the stock is owned by institutional investors.

MacroGenics Stock Performance

NASDAQ MGNX traded down $0.20 during trading on Wednesday, hitting $3.28. The stock had a trading volume of 657,318 shares, compared to its average volume of 1,453,014. The company has a market capitalization of $205.85 million, a PE ratio of -2.11 and a beta of 2.08. MacroGenics has a 12 month low of $2.95 and a 12 month high of $21.88. The company's 50-day moving average price is $3.66 and its two-hundred day moving average price is $4.33.

About MacroGenics

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.