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

MacroGenics (NASDAQ:MGNX - Get Free Report) had its price target reduced by equities researchers at HC Wainwright from $4.00 to $2.00 in a report released on Tuesday, Marketbeat reports. The firm currently has a "neutral" rating on the biopharmaceutical company's stock. HC Wainwright's price target suggests a potential upside of 58.73% from the stock's previous close. 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 downgraded shares of MacroGenics from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Nine research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $7.38.

MacroGenics Price Performance

NASDAQ:MGNX traded down $0.22 during trading hours 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 company has a market cap of $79.49 million, a price-to-earnings ratio of -0.80 and a beta of 2.12. The business's 50-day moving average is $2.51 and its 200-day moving average is $3.16. MacroGenics has a one year low of $1.26 and a one year high of $19.54.

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MacroGenics (NASDAQ:MGNX - Get Free Report) last posted its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $34.17 million. On average, sell-side analysts predict that MacroGenics will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

Institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in MacroGenics by 39.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 661,914 shares of the biopharmaceutical company's stock worth $2,178,000 after buying an additional 186,858 shares in the last quarter. Barclays PLC raised its holdings in shares of MacroGenics by 97.1% in the 3rd quarter. Barclays PLC now owns 98,753 shares of the biopharmaceutical company's stock worth $325,000 after buying an additional 48,639 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of MacroGenics by 104.5% during the 4th quarter. SG Americas Securities LLC now owns 34,399 shares of the biopharmaceutical company's stock worth $112,000 after buying an additional 17,577 shares during the period. Stifel Financial Corp boosted its stake 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 buying an additional 6,578 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in MacroGenics by 35.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 566,328 shares of the biopharmaceutical company's stock worth $1,863,000 after acquiring an additional 147,438 shares in the last quarter. 96.89% of the stock is owned by institutional investors and hedge funds.

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.