MacroGenics, Inc. (NASDAQ:MGNX) Given Consensus Recommendation of "Hold" by Brokerages

Shares of MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) have received an average rating of "Hold" from the eleven brokerages that are currently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $8.11.

MGNX has been the subject of several research reports. BTIG Research lowered MacroGenics from a "buy" rating to a "neutral" rating in a research note on Thursday, August 1st. StockNews.com downgraded MacroGenics from a "hold" rating to a "sell" rating in a report on Thursday, August 8th. Evercore ISI upgraded MacroGenics to a "strong-buy" rating in a report on Monday, September 16th. Citigroup dropped their target price on MacroGenics from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, August 15th. Finally, JMP Securities dropped their target price on MacroGenics from $16.00 to $8.00 and set a "market outperform" rating on the stock in a research report on Wednesday, July 31st.

Institutional Investors Weigh In On MacroGenics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. ProShare Advisors LLC increased 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 acquiring an additional 1,246 shares during the period. Diversified Trust Co lifted its position in MacroGenics by 16.0% during the first quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company's stock worth $201,000 after buying an additional 1,880 shares during the period. EntryPoint Capital LLC acquired a new position in shares of MacroGenics in the 1st quarter valued at about $40,000. CANADA LIFE ASSURANCE Co acquired a new position in MacroGenics during the 1st quarter worth approximately $52,000. Finally, Principal Financial Group Inc. lifted its position in MacroGenics by 1.1% during the 2nd quarter. Principal Financial Group Inc. now owns 348,421 shares of the biopharmaceutical company's stock worth $1,481,000 after acquiring an additional 3,818 shares in the last quarter. Institutional investors and hedge funds own 96.89% of the company's stock.

MacroGenics Price Performance

MGNX stock traded up $0.14 during mid-day trading on Tuesday, reaching $3.43. 714,947 shares of the company traded hands, compared to its average volume of 1,607,567. The company has a market capitalization of $214.83 million, a P/E ratio of -8.51 and a beta of 2.09. MacroGenics has a 52-week low of $2.95 and a 52-week high of $21.88. The company has a fifty day moving average price of $3.67 and a 200-day moving average price of $7.36.

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

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.