MacroGenics, Inc. (NASDAQ:MGNX) Receives Average Rating of "Hold" from Analysts

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) has earned a consensus rating of "Hold" from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $8.11.

A number of research analysts have weighed in on MGNX shares. Barclays decreased their target price on shares of MacroGenics from $14.00 to $9.00 and set an "overweight" rating on the stock in a research note on Monday, July 29th. B. Riley lowered MacroGenics from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $18.00 to $5.00 in a research note on Wednesday, July 31st. StockNews.com raised MacroGenics from a "sell" rating to a "hold" rating in a research note on Friday. BMO Capital Markets lowered their price target on shares of MacroGenics from $8.00 to $5.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 7th. Finally, HC Wainwright reissued a "neutral" rating and issued a $4.00 price objective on shares of MacroGenics in a report on Wednesday, September 18th.

Hedge Funds Weigh In On MacroGenics

Several large investors have recently made changes to their positions in MGNX. Diversified Trust Co raised its holdings in shares of MacroGenics by 16.0% in the 1st quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company's stock valued at $201,000 after buying an additional 1,880 shares during the period. Principal Financial Group Inc. increased its stake in MacroGenics by 28.6% during the first quarter. Principal Financial Group Inc. now owns 344,603 shares of the biopharmaceutical company's stock worth $5,073,000 after purchasing an additional 76,727 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of MacroGenics by 15.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,060 shares of the biopharmaceutical company's stock worth $840,000 after purchasing an additional 7,723 shares in the last quarter. Swiss National Bank purchased a new position in shares of MacroGenics in the first quarter valued at approximately $1,351,000. Finally, Susquehanna Fundamental Investments LLC grew its holdings in shares of MacroGenics by 597.4% in the first quarter. Susquehanna Fundamental Investments LLC now owns 105,787 shares of the biopharmaceutical company's stock valued at $1,557,000 after purchasing an additional 90,619 shares in the last quarter. 96.89% of the stock is currently owned by institutional investors and hedge funds.

MacroGenics Stock Performance

Shares of MGNX traded down $0.11 during trading hours on Friday, hitting $3.49. 436,607 shares of the stock were exchanged, compared to its average volume of 1,509,590. The stock's 50-day moving average price is $3.54 and its two-hundred day moving average price is $5.86. MacroGenics has a 12-month low of $2.95 and a 12-month high of $21.88. The company has a market cap of $218.89 million, a price-to-earnings ratio of -1.59 and a beta of 2.08.

MacroGenics (NASDAQ:MGNX - Get Free Report) last issued its 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). The business had revenue of $10.80 million during the quarter, compared to analyst estimates of $24.14 million. MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. On average, research analysts expect that MacroGenics will post -1.72 earnings per share for the current 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.