MacroGenics, Inc. (NASDAQ:MGNX) Receives $8.11 Average Target Price from Brokerages

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) has been given a consensus rating of "Hold" by the ten research firms that are covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $8.11.

MGNX has been the subject of several recent analyst reports. Barclays cut their price objective on shares of MacroGenics from $14.00 to $9.00 and set an "overweight" rating for the company in a research report on Monday, July 29th. Stifel Nicolaus cut shares of MacroGenics from a "buy" rating to a "hold" rating and dropped their target price for the stock from $29.00 to $7.00 in a report on Friday, May 10th. BTIG Research lowered shares of MacroGenics from a "buy" rating to a "neutral" rating in a report on Thursday, August 1st. StockNews.com cut shares of MacroGenics from a "hold" rating to a "sell" rating in a research note on Thursday, August 8th. Finally, BMO Capital Markets dropped their price target on MacroGenics from $8.00 to $5.00 and set a "market perform" rating for the company in a research note on Wednesday, August 7th.

Institutional Trading of MacroGenics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGNX. ProShare Advisors LLC raised its position in MacroGenics by 8.9% in the 1st quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company's stock valued at $225,000 after buying an additional 1,246 shares during the last quarter. Diversified Trust Co increased its stake in shares of MacroGenics by 16.0% in the first quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company's stock worth $201,000 after purchasing an additional 1,880 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of MacroGenics during the 1st quarter valued at approximately $40,000. CANADA LIFE ASSURANCE Co bought a new stake in MacroGenics during the 1st quarter valued at $52,000. Finally, Principal Financial Group Inc. grew its position in shares of MacroGenics by 1.1% in the second quarter. Principal Financial Group Inc. now owns 348,421 shares of the biopharmaceutical company's stock valued at $1,481,000 after purchasing an additional 3,818 shares in the last quarter. 96.89% of the stock is owned by institutional investors.

MacroGenics Price Performance

NASDAQ:MGNX traded down $0.13 on Friday, hitting $3.25. 533,360 shares of the company's stock were exchanged, compared to its average volume of 1,695,270. The firm has a 50-day moving average price of $4.07 and a 200-day moving average price of $9.15. The company has a market cap of $203.56 million, a P/E ratio of -8.33 and a beta of 2.09. MacroGenics has a 52 week low of $3.14 and a 52 week high of $21.88.

MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.42). MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. The company had revenue of $10.80 million during the quarter, compared to analyst estimates of $24.14 million. On average, research analysts expect that MacroGenics will post -1.72 earnings per share for the current fiscal year.

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.