MacroGenics, Inc. (NASDAQ:MGNX) Given Average Rating of "Moderate Buy" by Brokerages

Shares of MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven research firms that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $3.60.

A number of equities research analysts have recently issued reports on MGNX shares. Leerink Partners reduced their price target on shares of MacroGenics from $8.00 to $5.00 and set an "outperform" rating on the stock in a research note on Friday, August 15th. B. Riley dropped their target price on shares of MacroGenics from $5.00 to $3.00 and set a "neutral" rating for the company in a report on Tuesday, May 20th. Wall Street Zen lowered shares of MacroGenics from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Stifel Nicolaus dropped their price target on shares of MacroGenics from $6.00 to $5.00 and set a "hold" rating on the stock in a research report on Wednesday, May 14th. Finally, Barclays reaffirmed an "overweight" rating and set a $3.00 target price (down previously from $8.00) on shares of MacroGenics in a research note on Wednesday, May 14th.

MacroGenics Price Performance

Shares of MacroGenics stock traded down $0.0250 during trading hours on Monday, reaching $1.4650. The company's stock had a trading volume of 151,728 shares, compared to its average volume of 905,026. The stock has a market cap of $92.60 million, a P/E ratio of -2.57 and a beta of 1.65. MacroGenics has a one year low of $0.99 and a one year high of $5.10. The firm has a 50 day moving average price of $1.50 and a 200-day moving average price of $1.72.

MacroGenics (NASDAQ:MGNX - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $22.24 million during the quarter, compared to analysts' expectations of $28.06 million. MacroGenics had a negative net margin of 21.99% and a negative return on equity of 40.24%. As a group, sell-side analysts forecast that MacroGenics will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

Large investors have recently made changes to their positions in the company. Quadrature Capital Ltd bought a new stake in shares of MacroGenics in the 2nd quarter valued at approximately $26,000. State of Wyoming bought a new stake in MacroGenics during the first quarter worth approximately $28,000. Engineers Gate Manager LP bought a new stake in MacroGenics during the second quarter worth approximately $28,000. Walleye Capital LLC bought a new stake in MacroGenics during the second quarter worth approximately $30,000. Finally, Public Employees Retirement System of Ohio boosted its position in MacroGenics by 261.8% during the second quarter. Public Employees Retirement System of Ohio now owns 25,982 shares of the biopharmaceutical company's stock worth $31,000 after purchasing an additional 18,800 shares during the period. Institutional investors own 96.89% of the company's stock.

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.