MacroGenics, Inc. (NASDAQ:MGNX) Receives Consensus Rating of "Hold" from Brokerages

Shares of MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) have received a consensus rating of "Hold" from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Eight investment 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 twelve-month target price among analysts that have updated their coverage on the stock in the last year is $7.38.

Several equities research analysts have weighed in on MGNX shares. StockNews.com cut MacroGenics from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. HC Wainwright decreased their price target on MacroGenics from $4.00 to $2.00 and set a "neutral" rating on the stock in a report on Tuesday, March 25th.

MacroGenics Stock Performance

Shares of MGNX traded up $0.08 during mid-day trading on Tuesday, hitting $1.26. 759,739 shares of the stock were exchanged, compared to its average volume of 1,136,936. The firm has a 50-day moving average of $1.92 and a two-hundred day moving average of $2.90. MacroGenics has a 52-week low of $0.99 and a 52-week high of $16.59. The company has a market cap of $79.49 million, a PE ratio of -0.80 and a beta of 2.23.

MacroGenics (NASDAQ:MGNX - Get Free Report) last released its quarterly earnings data 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 net margin of 69.07% and a negative return on equity of 89.42%. The business had revenue of $49.40 million for the quarter, compared to the consensus estimate of $34.17 million. On average, sell-side analysts predict that MacroGenics will post -1.06 EPS for the current year.

Institutional Investors Weigh In On MacroGenics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of MacroGenics by 1,230.1% during the third quarter. FMR LLC now owns 137,215 shares of the biopharmaceutical company's stock valued at $451,000 after acquiring an additional 126,899 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in MacroGenics by 374.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 90,779 shares of the biopharmaceutical company's stock worth $299,000 after purchasing an additional 71,643 shares during the period. Stifel Financial Corp raised its position in 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 purchasing an additional 6,578 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of MacroGenics by 15.7% in the 3rd quarter. Wellington Management Group LLP now owns 307,140 shares of the biopharmaceutical company's stock worth $1,010,000 after buying an additional 41,733 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of MacroGenics during the 3rd quarter worth $37,000. Institutional investors own 96.89% of the company's stock.

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.