MacroGenics, Inc. (MGNX) - What Are Brokerages Thinking About This Stock?

Key Points

• Analyst sentiment is mixed: Six brokerages rate MacroGenics an average “Hold,” with one sell, three hold, and two buy ratings. The average 12-month price target is $6.33, while B. Riley raised its target to $11 and maintained a buy rating.
• MacroGenics shares opened at $3.25, compared with a 52-week range of $1.29 to $5.08. The company exceeded quarterly EPS expectations at $0.31 versus a projected loss of $0.08, but revenue of $32.83 million fell short of the $59.14 million estimate.
• Institutional ownership is high at 96.89%, while company insiders own 13.60%; Vice President Jeffrey Peters recently sold 31,105 shares for approximately $129,086 under a pre-arranged trading plan.

Shares of MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) have been assigned an average rating of "Hold" from the six research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $6.33.

Several analysts recently commented on MGNX shares. B. Riley Financial upped their target price on MacroGenics from $9.00 to $11.00 and gave the company a "buy" rating in a report on Monday, August 17th. Weiss Ratings restated a "sell (d-)" rating on shares of MacroGenics in a report on Wednesday, August 5th.

MacroGenics Stock Performance

Shares of NASDAQ:MGNX opened at $3.25 on Friday. MacroGenics has a 52-week low of $1.29 and a 52-week high of $5.08. The company has a market capitalization of $207.03 million, a P/E ratio of -14.77 and a beta of 1.20. The company has a 50-day simple moving average of $3.95 and a 200 day simple moving average of $3.92.

MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.39. The firm had revenue of $32.83 million for the quarter, compared to analyst estimates of $59.14 million. MacroGenics had a negative net margin of 8.70% and a negative return on equity of 109.26%. As a group, equities analysts forecast that MacroGenics will post -1.14 earnings per share for the current year.

Insider Activity at MacroGenics

In other news, VP Jeffrey Peters sold 31,105 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $4.15, for a total transaction of $129,085.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 13.60% of the company's stock.

Hedge Funds Weigh In On MacroGenics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc bought a new stake in MacroGenics during the second quarter valued at $28,000. Sanders Morris Harris LLC acquired a new stake in MacroGenics during the 3rd quarter worth about $48,000. Seven Fleet Capital Management LP bought a new position in shares of MacroGenics in the 1st quarter worth about $39,000. Two Sigma Securities LLC bought a new position in shares of MacroGenics in the 2nd quarter worth about $63,000. Finally, Affinity Asset Advisors LLC raised its position in shares of MacroGenics by 3.2% in the 1st quarter. Affinity Asset Advisors LLC now owns 500,000 shares of the biopharmaceutical company's stock worth $1,445,000 after acquiring an additional 15,692 shares in the last quarter. Institutional investors and hedge funds own 96.89% of the company's stock.

About MacroGenics

MacroGenics, Inc is a biopharmaceutical company focused on developing antibody-based therapies for cancer and other serious diseases. Based in Rockville, Maryland, the company uses its proprietary DART platform to design molecules intended to direct the immune system against diseased cells, along with technologies for modifying antibody activity and half-life.

MacroGenics' commercial products include MARGENZA (margetuximab-cmkb), an antibody approved in the United States for certain patients with HER2-positive metastatic breast cancer, and ZYNYZ (retifanlimab-dlwr), an immune checkpoint inhibitor approved for adults with metastatic or recurrent Merkel cell carcinoma.

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