MacroGenics (NASDAQ:MGNX) Receives Neutral Rating from HC Wainwright

HC Wainwright reissued their neutral rating on shares of MacroGenics (NASDAQ:MGNX - Free Report) in a research report report published on Wednesday, Benzinga reports. The firm currently has a $4.00 price target on the biopharmaceutical company's stock.

MGNX has been the subject of several other research reports. Barclays cut their target price on MacroGenics from $14.00 to $9.00 and set an "overweight" rating for the company in a research report on Monday, July 29th. Citigroup lowered their price objective on shares of MacroGenics from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, August 15th. B. Riley downgraded MacroGenics from a "buy" rating to a "neutral" rating and cut their price target for the company from $18.00 to $5.00 in a report on Wednesday, July 31st. Evercore ISI raised shares of MacroGenics to a "strong-buy" rating in a research report on Monday, September 16th. Finally, JMP Securities lowered their price target on MacroGenics from $16.00 to $8.00 and set a "market outperform" rating for the company in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $8.11.

MacroGenics Stock Performance

NASDAQ:MGNX traded up $0.42 during trading hours on Wednesday, hitting $4.19. The company had a trading volume of 3,088,069 shares, compared to its average volume of 543,756. The stock has a 50-day moving average price of $3.56 and a 200 day moving average price of $5.12. MacroGenics has a 52 week low of $2.95 and a 52 week high of $21.88.

MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.73. MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. The company had revenue of $110.71 million during the quarter, compared to the consensus estimate of $97.04 million. As a group, research analysts predict that MacroGenics will post -1.72 EPS for the current year.

Hedge Funds Weigh In On MacroGenics

Several hedge funds have recently bought and sold shares of MGNX. EntryPoint Capital LLC acquired a new stake in MacroGenics during the first quarter worth approximately $40,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of MacroGenics by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company's stock worth $40,000 after purchasing an additional 4,707 shares during the period. CANADA LIFE ASSURANCE Co acquired a new stake in MacroGenics during the 1st quarter worth approximately $52,000. SG Americas Securities LLC acquired a new position in MacroGenics during the third quarter valued at approximately $55,000. Finally, DRW Securities LLC purchased a new stake in MacroGenics during the second quarter worth approximately $56,000. 96.89% of the stock is owned by hedge funds and other institutional investors.

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.