MacroGenics, Inc. (NASDAQ:MGNX) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• MacroGenics received a consensus analyst rating of "Hold" from seven brokerages, with an average 1-year price target of $5.50.
• Recent analyst actions have been mixed: B. Riley upgraded the stock to buy with a $9 target, Barclays raised its target to $6 and kept an overweight rating, while Weiss Ratings reiterated a sell call.
• The company reported a quarterly EPS loss of ($0.58), slightly worse than estimates, but revenue of $20.77 million beat expectations; MacroGenics also ended Thursday at $4.66 per share.

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) has been given a consensus recommendation of "Hold" by the seven brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $5.50.

A number of research firms have commented on MGNX. B. Riley Financial raised MacroGenics from a "neutral" rating to a "buy" rating and increased their target price for the stock from $3.00 to $9.00 in a report on Friday, April 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of MacroGenics in a report on Friday, May 8th. Wall Street Zen upgraded MacroGenics from a "sell" rating to a "hold" rating in a research note on Saturday, March 14th. Finally, Barclays lifted their price objective on shares of MacroGenics from $4.00 to $6.00 and gave the stock an "overweight" rating in a report on Monday, April 20th.

MacroGenics Price Performance

NASDAQ MGNX opened at $4.66 on Thursday. The company has a market capitalization of $296.19 million, a price-to-earnings ratio of -4.24 and a beta of 1.18. MacroGenics has a 12 month low of $1.29 and a 12 month high of $5.08. The company's fifty day moving average price is $4.09 and its two-hundred day moving average price is $2.94.

MacroGenics (NASDAQ:MGNX - Get Free Report) last released its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.01). MacroGenics had a negative return on equity of 147.80% and a negative net margin of 44.79%.The company had revenue of $20.77 million during the quarter, compared to the consensus estimate of $15.24 million. As a group, analysts anticipate that MacroGenics will post -1.76 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MGNX. Jefferies Financial Group Inc. acquired a new stake in MacroGenics during the fourth quarter worth about $2,964,000. Renaissance Technologies LLC boosted its stake in MacroGenics by 71.0% in the fourth quarter. Renaissance Technologies LLC now owns 2,908,631 shares of the biopharmaceutical company's stock valued at $4,683,000 after acquiring an additional 1,207,408 shares during the period. Marshall Wace LLP grew its holdings in shares of MacroGenics by 104.0% during the fourth quarter. Marshall Wace LLP now owns 1,284,563 shares of the biopharmaceutical company's stock valued at $2,068,000 after purchasing an additional 655,028 shares during the last quarter. Bank of America Corp DE raised its position in shares of MacroGenics by 30.7% during the 1st quarter. Bank of America Corp DE now owns 2,401,814 shares of the biopharmaceutical company's stock worth $6,941,000 after purchasing an additional 564,094 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of MacroGenics by 207.7% in the 2nd quarter. Jane Street Group LLC now owns 758,204 shares of the biopharmaceutical company's stock worth $917,000 after purchasing an additional 511,777 shares during the last quarter. 96.89% of the stock is owned by institutional investors and hedge funds.

MacroGenics Company Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics' research platform are its ADAPTIR and Trident bispecific antibody technologies.

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