MacroGenics, Inc. (NASDAQ:MGNX) Receives $3.60 Consensus Price Target from Brokerages

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%.

Shares of MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) have earned a consensus recommendation of "Hold" from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $3.60.

Several brokerages have recently weighed in on MGNX. Barclays began coverage on shares of MacroGenics in a research report on Wednesday. They set an "overweight" rating and a $3.00 target price on the stock. Leerink Partners decreased their target price on shares of MacroGenics from $8.00 to $5.00 and set an "outperform" rating on the stock in a research report on Friday, August 15th. B. Riley decreased their target price on shares of MacroGenics from $5.00 to $3.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 20th. Finally, Wall Street Zen lowered shares of MacroGenics from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd.

Insider Transactions at MacroGenics

In other news, Director William K. Heiden purchased 50,500 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $1.52 per share, with a total value of $76,760.00. Following the acquisition, the director directly owned 61,500 shares of the company's stock, valued at approximately $93,480. This trade represents a 459.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 13.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MacroGenics

Several institutional investors have recently added to or reduced their stakes in MGNX. Quadrature Capital Ltd bought a new position in MacroGenics during the 2nd quarter valued at about $26,000. State of Wyoming bought a new position in MacroGenics during the 1st quarter valued at about $28,000. Engineers Gate Manager LP bought a new position in MacroGenics during the 2nd quarter valued at about $28,000. Walleye Capital LLC bought a new position in MacroGenics during the 2nd quarter valued at about $30,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in MacroGenics by 261.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 25,982 shares of the biopharmaceutical company's stock valued at $31,000 after purchasing an additional 18,800 shares during the last quarter. 96.89% of the stock is owned by institutional investors.

MacroGenics Price Performance

Shares of MacroGenics stock traded up $0.06 during trading on Friday, hitting $1.53. 780,865 shares of the company's stock traded hands, compared to its average volume of 974,776. The firm's fifty day moving average price is $1.63 and its 200 day moving average price is $1.59. MacroGenics has a twelve month low of $0.99 and a twelve month high of $5.10. The company has a market cap of $96.71 million, a PE ratio of -2.68 and a beta of 1.63.

MacroGenics (NASDAQ:MGNX - Get Free Report) last issued its earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.02. MacroGenics had a negative net margin of 21.99% and a negative return on equity of 40.24%. The business had revenue of $22.24 million for the quarter, compared to analyst estimates of $28.06 million. As a group, equities research analysts anticipate that MacroGenics will post -1.06 earnings per share for the current 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.