MacroGenics, Inc. (NASDAQ:MGNX) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• MacroGenics, Inc. has received a consensus rating of "Hold" from seven brokerage firms, with one sell, four hold, one buy, and one strong buy recommendation.
• Director William K. Heiden purchased 49,500 shares at an average cost of $1.49, increasing their ownership by 80.49% to approximately 111,000 shares.
• MacroGenics reported an earnings loss of ($0.57) EPS for the last quarter, slightly beating analyst expectations but falling short in revenue at $22.24 million.

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) has been given a consensus rating of "Hold" by the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $3.60.

Several equities research analysts recently weighed in on MGNX shares. Leerink Partners reduced their price target on MacroGenics from $8.00 to $5.00 and set an "outperform" rating on the stock in a research note on Friday, August 15th. Wall Street Zen cut MacroGenics from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of MacroGenics in a research note on Saturday, September 27th. Finally, Barclays started coverage on MacroGenics in a research note on Wednesday, September 17th. They issued an "overweight" rating and a $3.00 price target on the stock.

Insiders Place Their Bets

In other news, Director William K. Heiden purchased 49,500 shares of MacroGenics stock in a transaction that occurred on Wednesday, August 20th. The shares were bought at an average cost of $1.49 per share, with a total value of $73,755.00. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MacroGenics

A number of institutional investors have recently modified their holdings of MGNX. EcoR1 Capital LLC purchased a new stake in shares of MacroGenics in the second quarter worth $1,939,000. Acadian Asset Management LLC grew its stake in shares of MacroGenics by 78.8% in the first quarter. Acadian Asset Management LLC now owns 2,308,649 shares of the biopharmaceutical company's stock worth $2,923,000 after acquiring an additional 1,017,726 shares during the last quarter. Jane Street Group LLC grew its stake in shares of MacroGenics by 207.7% in the second quarter. Jane Street Group LLC now owns 758,204 shares of the biopharmaceutical company's stock worth $917,000 after acquiring an additional 511,777 shares during the last quarter. Amundi purchased a new stake in shares of MacroGenics in the first quarter worth $272,000. Finally, Strs Ohio purchased a new stake in shares of MacroGenics in the first quarter worth $263,000. 96.89% of the stock is owned by hedge funds and other institutional investors.

MacroGenics Stock Performance

MGNX opened at $1.76 on Tuesday. MacroGenics has a 52-week low of $0.99 and a 52-week high of $5.10. The stock has a market capitalization of $111.25 million, a PE ratio of -3.09 and a beta of 1.61. The stock's 50 day moving average price is $1.66 and its 200-day moving average price is $1.53.

MacroGenics (NASDAQ:MGNX - Get Free Report) last posted its earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.02. MacroGenics had a negative return on equity of 40.24% and a negative net margin of 21.99%.The firm had revenue of $22.24 million for the quarter, compared to analysts' expectations of $28.06 million. Research analysts forecast that MacroGenics will post -1.06 EPS for the current fiscal 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.

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