MacroGenics, Inc. (NASDAQ:MGNX) Receives $3.60 Average Target Price from Analysts

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seven brokerages that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $3.60.

Several analysts have recently issued reports on MGNX shares. Wall Street Zen lowered MacroGenics from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Stifel Nicolaus reduced their target price on MacroGenics from $6.00 to $5.00 and set a "hold" rating on the stock in a report on Wednesday, May 14th. Barclays reissued an "overweight" rating and set a $3.00 target price (down from $8.00) on shares of MacroGenics in a report on Wednesday, May 14th. Leerink Partners reduced their target price on MacroGenics from $8.00 to $5.00 and set an "outperform" rating on the stock in a report on Friday, August 15th. Finally, B. Riley dropped 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.

MacroGenics Stock Up 10.1%

Shares of MGNX traded up $0.1450 during trading hours on Monday, hitting $1.5850. 442,029 shares of the company were exchanged, compared to its average volume of 902,197. The company has a market cap of $100.19 million, a price-to-earnings ratio of -2.78 and a beta of 1.65. MacroGenics has a fifty-two week low of $0.99 and a fifty-two week high of $5.10. The firm's fifty day moving average is $1.50 and its 200 day moving average is $1.71.

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

Insider Buying and Selling at MacroGenics

In other MacroGenics news, Director William K. Heiden acquired 49,500 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average cost of $1.49 per share, for a total transaction of $73,755.00. Following the transaction, the director directly owned 111,000 shares in the company, valued at $165,390. This represents a 80.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 13.00% of the stock is currently owned by corporate insiders.

Institutional Trading of MacroGenics

Several institutional investors and hedge funds have recently modified their holdings of the business. Armistice Capital LLC lifted its position in shares of MacroGenics by 0.3% during the 1st quarter. Armistice Capital LLC now owns 6,296,000 shares of the biopharmaceutical company's stock worth $7,996,000 after buying an additional 20,000 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its position in shares of MacroGenics by 5.5% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,175,665 shares of the biopharmaceutical company's stock worth $10,321,000 after buying an additional 164,938 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of MacroGenics by 7.9% during the 2nd quarter. Acadian Asset Management LLC now owns 2,491,703 shares of the biopharmaceutical company's stock worth $3,008,000 after buying an additional 183,054 shares during the last quarter. EcoR1 Capital LLC bought a new position in MacroGenics in the second quarter valued at about $1,939,000. Finally, Geode Capital Management LLC raised its position in MacroGenics by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,433,217 shares of the biopharmaceutical company's stock valued at $4,659,000 after purchasing an additional 26,341 shares during the last quarter. 96.89% of the stock is currently owned by institutional investors.

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.