MacroGenics (NASDAQ:MGNX) Price Target Lowered to $2.00 at HC Wainwright

MacroGenics (NASDAQ:MGNX - Get Free Report) had its price objective lowered by analysts at HC Wainwright from $4.00 to $2.00 in a research note issued on Tuesday, Marketbeat reports. The brokerage currently has a "neutral" rating on the biopharmaceutical company's stock. HC Wainwright's target price suggests a potential upside of 58.73% from the stock's current price. HC Wainwright also issued estimates for MacroGenics' Q1 2025 earnings at ($0.69) EPS, Q2 2025 earnings at ($0.71) EPS, Q3 2025 earnings at ($0.73) EPS, Q4 2025 earnings at ($0.75) EPS and FY2025 earnings at ($2.89) EPS.

Separately, StockNews.com lowered MacroGenics from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Nine 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's stock. According to MarketBeat, MacroGenics presently has a consensus rating of "Hold" and a consensus price target of $7.38.

MacroGenics Stock Performance

Shares of NASDAQ:MGNX traded down $0.22 during midday trading on Tuesday, reaching $1.26. The company's stock had a trading volume of 1,843,538 shares, compared to its average volume of 1,172,463. The firm has a market capitalization of $79.49 million, a price-to-earnings ratio of -0.80 and a beta of 2.12. MacroGenics has a fifty-two week low of $1.26 and a fifty-two week high of $19.54. The firm has a 50 day moving average price of $2.51 and a two-hundred day moving average price of $3.16.

MacroGenics (NASDAQ:MGNX - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.02). The firm had revenue of $49.40 million for the quarter, compared to analysts' expectations of $34.17 million. MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. As a group, research analysts anticipate that MacroGenics will post -1.06 earnings per share for the current year.

Institutional Investors Weigh In On MacroGenics

Hedge funds have recently added to or reduced their stakes in the business. ProShare Advisors LLC increased its stake in shares of MacroGenics by 32.4% in the 4th quarter. ProShare Advisors LLC now owns 20,284 shares of the biopharmaceutical company's stock valued at $66,000 after purchasing an additional 4,963 shares in the last quarter. XML Financial LLC boosted its stake in MacroGenics by 31.6% during the fourth quarter. XML Financial LLC now owns 23,169 shares of the biopharmaceutical company's stock worth $75,000 after buying an additional 5,569 shares during the last quarter. Stifel Financial Corp boosted its holdings in MacroGenics by 19.7% in 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 during the last quarter. Wells Fargo & Company MN increased its stake in MacroGenics by 45.4% during the fourth quarter. Wells Fargo & Company MN now owns 29,838 shares of the biopharmaceutical company's stock worth $97,000 after acquiring an additional 9,312 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of MacroGenics during the fourth quarter valued at about $32,000. 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.