Brokerages Set MacroGenics, Inc. (NASDAQ:MGNX) Price Target at $3.60

Key Points

• MacroGenics, Inc. has received a consensus rating of "Moderate Buy" from seven brokerage firms, with an average one-year price target of $3.60.
• The company's stock is currently trading at $1.65 and has experienced a decline of 4.1% recently.
• In a recent transaction, Director William K. Heiden purchased 49,500 shares at an average price of $1.49 per share, increasing his ownership stake by over 80%.

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seven brokerages that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $3.60.

Several equities analysts have weighed in on MGNX shares. Leerink Partners dropped their price target on MacroGenics from $8.00 to $5.00 and set an "outperform" rating for the company in a research report on Friday, August 15th. B. Riley lowered their price objective on MacroGenics from $5.00 to $3.00 and set a "neutral" rating for the company in a research report on Tuesday, May 20th. Finally, Wall Street Zen downgraded MacroGenics from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd.

Insider Activity at MacroGenics

In other MacroGenics news, Director William K. Heiden acquired 49,500 shares of the stock in a transaction dated Wednesday, August 20th. The stock was acquired at an average price of $1.49 per share, with a total value of $73,755.00. Following the completion of the transaction, the director directly owned 111,000 shares in the company, valued at approximately $165,390. This trade represents a 80.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 13.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new position in MacroGenics in the second quarter valued at $26,000. State of Wyoming acquired a new position in MacroGenics in the first quarter valued at $28,000. Engineers Gate Manager LP acquired a new position in MacroGenics in the second quarter valued at $28,000. Walleye Capital LLC acquired a new position in MacroGenics in the second quarter valued at $30,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in MacroGenics by 261.8% in the second quarter. Public Employees Retirement System of Ohio now owns 25,982 shares of the biopharmaceutical company's stock valued at $31,000 after acquiring an additional 18,800 shares during the last quarter. Institutional investors and hedge funds own 96.89% of the company's stock.

MacroGenics Price Performance

MacroGenics stock traded down $0.06 during mid-day trading on Friday, hitting $1.59. 491,283 shares of the company were exchanged, compared to its average volume of 935,919. The business's 50 day simple moving average is $1.63 and its two-hundred day simple moving average is $1.60. The company has a market capitalization of $100.50 million, a P/E ratio of -2.79 and a beta of 1.63. MacroGenics has a 12-month low of $0.99 and a 12-month high of $5.10.

MacroGenics (NASDAQ:MGNX - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.02. The company had revenue of $22.24 million during the quarter, compared to the consensus estimate of $28.06 million. MacroGenics had a negative return on equity of 40.24% and a negative net margin of 21.99%. Equities research analysts predict that MacroGenics will post -1.06 earnings per share for the current year.

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.