Brokerages Set MacroGenics, Inc. (NASDAQ:MGNX) Price Target at $5.71

Shares of MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) have been assigned an average rating of "Hold" from the ten brokerages that are covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $5.71.

Several research analysts recently commented on MGNX shares. Wall Street Zen upgraded shares of MacroGenics from a "sell" rating to a "hold" rating in a report on Friday, May 30th. HC Wainwright dropped their price target on shares of MacroGenics from $4.00 to $2.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 25th. B. Riley decreased their price objective on shares of MacroGenics from $5.00 to $3.00 and set a "neutral" rating for the company in a research report on Tuesday, May 20th. Barclays reaffirmed an "overweight" rating and set a $3.00 target price (down from $8.00) on shares of MacroGenics in a research report on Wednesday, May 14th. Finally, Stifel Nicolaus cut their price target on MacroGenics from $6.00 to $5.00 and set a "hold" rating on the stock in a research note on Wednesday, May 14th.

Hedge Funds Weigh In On MacroGenics

Hedge funds have recently added to or reduced their stakes in the business. ProShare Advisors LLC grew its position in shares of MacroGenics by 32.4% during the fourth quarter. ProShare Advisors LLC now owns 20,284 shares of the biopharmaceutical company's stock worth $66,000 after acquiring an additional 4,963 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of MacroGenics by 45.4% during the fourth quarter. Wells Fargo & Company MN now owns 29,838 shares of the biopharmaceutical company's stock worth $97,000 after buying an additional 9,312 shares during the period. Exchange Traded Concepts LLC grew its holdings in MacroGenics by 19.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 58,434 shares of the biopharmaceutical company's stock worth $74,000 after buying an additional 9,611 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in MacroGenics in the 4th quarter valued at approximately $32,000. Finally, American Century Companies Inc. bought a new stake in MacroGenics during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 96.89% of the company's stock.

MacroGenics Stock Performance

NASDAQ MGNX traded down $0.05 during trading hours on Wednesday, hitting $1.45. 257,661 shares of the company's stock were exchanged, compared to its average volume of 754,918. The business's 50 day moving average is $1.43 and its 200-day moving average is $2.39. MacroGenics has a 12-month low of $0.99 and a 12-month high of $5.77. The firm has a market capitalization of $91.48 million, a P/E ratio of -0.92 and a beta of 2.20.

MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.04). The company had revenue of $13.19 million for the quarter, compared to analysts' expectations of $9.59 million. MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. As a group, equities research analysts anticipate that MacroGenics will post -1.06 EPS for the current fiscal 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.