HC Wainwright Reaffirms Neutral Rating for MacroGenics (NASDAQ:MGNX)

MacroGenics (NASDAQ:MGNX - Get Free Report)'s stock had its "neutral" rating restated by research analysts at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They currently have a $4.00 price objective on the biopharmaceutical company's stock. HC Wainwright's target price indicates a potential upside of 11.11% from the stock's previous close.

A number of other equities research analysts also recently weighed in on the company. Guggenheim downgraded MacroGenics from a "buy" rating to a "neutral" rating in a research report on Wednesday, July 31st. JMP Securities lowered their price objective on MacroGenics from $16.00 to $8.00 and set a "market outperform" rating on the stock in a research note on Wednesday, July 31st. Citigroup cut their target price on MacroGenics from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Barclays lowered their price target on MacroGenics from $14.00 to $9.00 and set an "overweight" rating on the stock in a research report on Monday, July 29th. Finally, B. Riley cut MacroGenics from a "buy" rating to a "neutral" rating and cut their price objective for the company from $18.00 to $5.00 in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $8.11.

MacroGenics Trading Down 0.6 %

MacroGenics stock traded down $0.02 on Wednesday, reaching $3.60. 580,357 shares of the stock were exchanged, compared to its average volume of 1,769,769. MacroGenics has a twelve month low of $3.14 and a twelve month high of $21.88. The firm has a fifty day moving average price of $4.31 and a two-hundred day moving average price of $10.31. The stock has a market cap of $225.48 million, a PE ratio of -9.23 and a beta of 2.09.

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 business had revenue of $10.80 million for the quarter, compared to analyst estimates of $24.14 million. MacroGenics had a negative return on equity of 98.01% and a negative net margin of 53.60%. Equities analysts anticipate that MacroGenics will post -2.19 EPS for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. lifted its holdings in MacroGenics by 21.8% during the second quarter. Frazier Life Sciences Management L.P. now owns 3,010,727 shares of the biopharmaceutical company's stock worth $12,796,000 after acquiring an additional 539,023 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in shares of MacroGenics by 22.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 129,996 shares of the biopharmaceutical company's stock valued at $552,000 after purchasing an additional 24,209 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of MacroGenics by 3,473.7% during the 2nd quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company's stock valued at $14,079,000 after purchasing an additional 3,219,977 shares in the last quarter. AQR Capital Management LLC grew its position in shares of MacroGenics by 74.5% in the 2nd quarter. AQR Capital Management LLC now owns 143,161 shares of the biopharmaceutical company's stock valued at $608,000 after purchasing an additional 61,131 shares during the period. Finally, Armistice Capital LLC increased its stake in MacroGenics by 150.0% during the 2nd quarter. Armistice Capital LLC now owns 6,000,000 shares of the biopharmaceutical company's stock worth $25,500,000 after purchasing an additional 3,600,000 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.