MacroGenics, Inc. (NASDAQ:MGNX) Stock Has Average Price Target of $8.50 According to Analysts

Key Points

• Analysts rate MacroGenics “Hold” on average, with three buys, one hold and one sell; the average 1-year price target is $8.50.
• The company reported quarterly EPS of $0.31, beating the consensus estimate of a $0.08 loss, but revenue of $32.83 million fell short of analysts’ $59.14 million expectation.
• MacroGenics shares opened at $2.42, within a 1-year range of $1.32 to $5.08; B. Riley raised its price target from $9 to $11 and reiterated a buy rating.

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) has been assigned a consensus rating of "Hold" from the five ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $8.50.

A number of brokerages have weighed in on MGNX. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MacroGenics in a research report on Tuesday, November 3rd. Citigroup initiated coverage on MacroGenics in a research note on Friday, October 23rd. They set a "positive" rating for the company. Finally, B. Riley Financial increased their price objective on MacroGenics from $9.00 to $11.00 and gave the company a "buy" rating in a report on Monday, August 17th.

MacroGenics Trading Up 3.4%

MacroGenics stock opened at $2.42 on Wednesday. MacroGenics has a 1-year low of $1.32 and a 1-year high of $5.08. The firm's fifty day simple moving average is $3.44 and its 200-day simple moving average is $3.42. The company has a market capitalization of $154.15 million, a P/E ratio of -11.00 and a beta of 1.33.

MacroGenics (NASDAQ:MGNX - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $59.14 million. MacroGenics had a negative net margin of 8.70% and a negative return on equity of 109.26%. On average, equities research analysts predict that MacroGenics will post -1.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Jeffrey Peters sold 31,105 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $4.15, for a total value of $129,085.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 13.60% of the company's stock.

Hedge Funds Weigh In On MacroGenics

A number of institutional investors have recently modified their holdings of the company. Legal & General Group Plc acquired a new stake in shares of MacroGenics in the second quarter worth $28,000. State of Wyoming grew its stake in MacroGenics by 201.0% in the 3rd quarter. State of Wyoming now owns 7,518 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 5,020 shares during the last quarter. Sanders Morris Harris LLC acquired a new position in MacroGenics in the 3rd quarter valued at $48,000. Seven Fleet Capital Management LP bought a new position in MacroGenics in the 1st quarter worth $39,000. Finally, Two Sigma Securities LLC bought a new position in MacroGenics in the 2nd quarter worth $63,000. Institutional investors own 96.89% of the company's stock.

MacroGenics Company Profile

MacroGenics, Inc. is a biopharmaceutical company focused on developing antibody-based therapies for cancer and immune-mediated diseases. Headquartered in Rockville, Maryland, the company uses its proprietary DART platform and other antibody technologies to create treatments designed to modulate immune responses and target disease-associated cells. MacroGenics' portfolio includes MARGENZA (margetuximab-cmkb), an antibody therapy approved in the United States for certain patients with HER2-positive metastatic breast cancer.

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