MacroGenics, Inc. (NASDAQ:MGNX) Receives $5.71 Consensus Price Target from Analysts

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) has earned a consensus recommendation of "Hold" from the ten brokerages that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $5.71.

MGNX has been the subject of a number of recent research reports. Barclays restated an "overweight" rating and issued a $3.00 target price (down from $8.00) on shares of MacroGenics in a research note on Wednesday, May 14th. B. Riley cut their target price on MacroGenics from $5.00 to $3.00 and set a "neutral" rating for the company in a research note on Tuesday, May 20th. Stifel Nicolaus cut their target price on MacroGenics from $6.00 to $5.00 and set a "hold" rating for the company in a research note on Wednesday, May 14th. Finally, Wall Street Zen upgraded MacroGenics from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th.

MacroGenics Stock Down 3.9%

Shares of MGNX stock traded down $0.07 during trading hours on Thursday, reaching $1.71. 515,445 shares of the company's stock were exchanged, compared to its average volume of 1,196,383. The business has a fifty day moving average price of $1.49 and a 200-day moving average price of $1.91. The stock has a market capitalization of $107.88 million, a P/E ratio of -1.92 and a beta of 1.59. MacroGenics has a fifty-two week low of $0.99 and a fifty-two week high of $5.77.

MacroGenics (NASDAQ:MGNX - Get Free Report) last issued its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.04). The firm had revenue of $13.19 million during the quarter, compared to analyst estimates of $9.59 million. MacroGenics had a negative net margin of 36.23% and a negative return on equity of 59.84%. As a group, research analysts expect that MacroGenics will post -1.06 EPS for the current fiscal year.

Hedge Funds Weigh In On MacroGenics

Hedge funds have recently added to or reduced their stakes in the company. Armistice Capital LLC boosted its holdings in MacroGenics by 0.3% during the first quarter. Armistice Capital LLC now owns 6,296,000 shares of the biopharmaceutical company's stock worth $7,996,000 after buying an additional 20,000 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of MacroGenics by 37.6% in the 4th quarter. Wasatch Advisors LP now owns 3,488,493 shares of the biopharmaceutical company's stock valued at $11,338,000 after acquiring an additional 952,691 shares during the last quarter. Frazier Life Sciences Management L.P. increased its stake in shares of MacroGenics by 5.5% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,175,665 shares of the biopharmaceutical company's stock valued at $10,321,000 after acquiring an additional 164,938 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of MacroGenics by 78.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,308,649 shares of the biopharmaceutical company's stock valued at $2,923,000 after acquiring an additional 1,017,726 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of MacroGenics by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 1,433,217 shares of the biopharmaceutical company's stock valued at $4,659,000 after acquiring an additional 26,341 shares during the last quarter. Institutional investors own 96.89% of the company's stock.

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.