MacroGenics, Inc. (NASDAQ:MGNX) Receives $7.43 Consensus Target Price from Brokerages

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) has earned an average recommendation of "Hold" from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $6.38.

A number of equities research analysts recently commented on MGNX shares. HC Wainwright lowered their price target on MacroGenics from $4.00 to $2.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. StockNews.com lowered MacroGenics from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. 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. Finally, Stifel Nicolaus decreased their target price on MacroGenics from $6.00 to $5.00 and set a "hold" rating for the company in a research report on Wednesday.

MacroGenics Price Performance

Shares of NASDAQ:MGNX traded down $0.01 during trading on Friday, reaching $1.54. 236,700 shares of the stock were exchanged, compared to its average volume of 856,952. MacroGenics has a 1-year low of $0.99 and a 1-year high of $5.77. The stock has a fifty day moving average of $1.58 and a two-hundred day moving average of $2.64. The firm has a market cap of $97.16 million, a price-to-earnings ratio of -0.97 and a beta of 2.20.

MacroGenics (NASDAQ:MGNX - Get Free Report) last issued its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.04). MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. The firm had revenue of $13.19 million for the quarter, compared to analyst estimates of $9.59 million. Sell-side analysts forecast that MacroGenics will post -1.06 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP boosted its position in shares of MacroGenics by 37.6% during 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. Schonfeld Strategic Advisors LLC bought a new stake in MacroGenics in the 4th quarter worth approximately $2,787,000. JPMorgan Chase & Co. lifted its position in MacroGenics by 68.3% in the 4th quarter. JPMorgan Chase & Co. now owns 546,807 shares of the biopharmaceutical company's stock worth $1,777,000 after buying an additional 221,905 shares during the last quarter. Renaissance Technologies LLC lifted its position in MacroGenics by 69.1% in the 4th quarter. Renaissance Technologies LLC now owns 538,523 shares of the biopharmaceutical company's stock worth $1,750,000 after buying an additional 220,100 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in MacroGenics by 81.9% in the 1st quarter. GSA Capital Partners LLP now owns 448,530 shares of the biopharmaceutical company's stock worth $570,000 after buying an additional 201,926 shares during the last quarter. Hedge funds and other 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.