MacroGenics, Inc. (NASDAQ:MGNX) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Consensus rating: Hold — Eight analysts cover MacroGenics (1 sell, 5 hold, 2 buy) with an average 12‑month price target of $3.80, and Barclays recently raised its target to $4.00 with an overweight call.
• MacroGenics beat the latest quarter's estimates (EPS of -$0.22 vs. consensus -$0.42 and revenue $41.23M vs. $27.81M) but remains unprofitable with negative ROE and margins, and analysts forecast about -1.06 EPS for the year.
• Institutional ownership is very high at 96.89%, with major funds such as Renaissance, Marshall Wace, Jefferies and Jane Street recently increasing their stakes.

Shares of MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) have been assigned an average rating of "Hold" from the eight analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $3.80.

A number of brokerages have recently commented on MGNX. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MacroGenics in a research report on Monday, December 22nd. Citigroup reiterated a "market perform" rating on shares of MacroGenics in a research report on Tuesday, February 24th. Zacks Research cut MacroGenics from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 1st. Barclays upped their price objective on shares of MacroGenics from $3.00 to $4.00 and gave the company an "overweight" rating in a research note on Tuesday, March 10th. Finally, Wall Street Zen upgraded shares of MacroGenics from a "sell" rating to a "hold" rating in a report on Saturday, March 14th.

Hedge Funds Weigh In On MacroGenics

A number of large investors have recently bought and sold shares of the stock. Jefferies Financial Group Inc. purchased a new stake in shares of MacroGenics during the 4th quarter valued at $2,964,000. EcoR1 Capital LLC acquired a new stake in shares of MacroGenics during the 2nd quarter worth $1,939,000. Renaissance Technologies LLC raised its position in shares of MacroGenics by 71.0% in the 4th quarter. Renaissance Technologies LLC now owns 2,908,631 shares of the biopharmaceutical company's stock worth $4,683,000 after buying an additional 1,207,408 shares during the period. Marshall Wace LLP raised its position in shares of MacroGenics by 104.0% in the 4th quarter. Marshall Wace LLP now owns 1,284,563 shares of the biopharmaceutical company's stock worth $2,068,000 after buying an additional 655,028 shares during the period. Finally, Jane Street Group LLC boosted its holdings in MacroGenics by 207.7% in the second quarter. Jane Street Group LLC now owns 758,204 shares of the biopharmaceutical company's stock valued at $917,000 after acquiring an additional 511,777 shares during the last quarter. Hedge funds and other institutional investors own 96.89% of the company's stock.

MacroGenics Stock Performance

Shares of NASDAQ MGNX opened at $2.76 on Tuesday. The firm has a market cap of $175.43 million, a P/E ratio of -2.36 and a beta of 1.45. MacroGenics has a 1 year low of $0.99 and a 1 year high of $3.54. The firm's 50 day moving average price is $2.19 and its 200 day moving average price is $1.81.

MacroGenics (NASDAQ:MGNX - Get Free Report) last issued its quarterly earnings results on Monday, March 9th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.20. MacroGenics had a negative return on equity of 120.19% and a negative net margin of 49.91%.The company had revenue of $41.23 million during the quarter, compared to the consensus estimate of $27.81 million. As a group, equities analysts predict that MacroGenics will post -1.06 EPS for the current year.

About MacroGenics

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics' research platform are its ADAPTIR and Trident bispecific antibody technologies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.