Brokerages Set MacroGenics, Inc. (NASDAQ:MGNX) PT at $17.00

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eight brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $17.00.

Several brokerages have recently weighed in on MGNX. TheStreet cut shares of MacroGenics from a "c" rating to a "d" rating in a research note on Thursday, March 7th. Barclays raised their price target on shares of MacroGenics from $12.00 to $23.00 and gave the stock an "overweight" rating in a research note on Thursday, February 29th. JMP Securities reaffirmed a "market outperform" rating on shares of MacroGenics in a research note on Thursday, April 4th. Citigroup raised shares of MacroGenics from a "neutral" rating to a "buy" rating and raised their price target for the stock from $7.00 to $13.00 in a research note on Wednesday, December 20th. Finally, HC Wainwright cut shares of MacroGenics from a "buy" rating to a "neutral" rating and raised their price target for the stock from $12.00 to $14.00 in a research note on Wednesday, February 14th.

Insider Activity at MacroGenics

In related news, VP Jeffrey Stuart Peters sold 16,124 shares of the firm's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $17.22, for a total value of $277,655.28. Following the completion of the transaction, the vice president now directly owns 8,895 shares of the company's stock, valued at $153,171.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other MacroGenics news, SVP Ezio Bonvini sold 13,316 shares of MacroGenics stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $15.00, for a total transaction of $199,740.00. Following the completion of the transaction, the senior vice president now directly owns 74,668 shares of the company's stock, valued at $1,120,020. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jeffrey Stuart Peters sold 16,124 shares of MacroGenics stock in a transaction on Monday, February 26th. The stock was sold at an average price of $17.22, for a total transaction of $277,655.28. Following the transaction, the vice president now directly owns 8,895 shares of the company's stock, valued at $153,171.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 94,151 shares of company stock valued at $1,436,380. 10.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MacroGenics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGNX. Point72 Middle East FZE acquired a new stake in shares of MacroGenics during the fourth quarter worth $28,000. AJOVista LLC acquired a new stake in shares of MacroGenics during the fourth quarter worth $51,000. Royal Bank of Canada lifted its holdings in shares of MacroGenics by 57.1% during the second quarter. Royal Bank of Canada now owns 5,922 shares of the biopharmaceutical company's stock worth $32,000 after buying an additional 2,153 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of MacroGenics by 349.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company's stock worth $69,000 after buying an additional 5,577 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of MacroGenics by 74.1% during the third quarter. Tower Research Capital LLC TRC now owns 8,524 shares of the biopharmaceutical company's stock worth $40,000 after buying an additional 3,628 shares in the last quarter. 96.89% of the stock is owned by institutional investors.

MacroGenics Stock Performance

NASDAQ:MGNX traded down $0.25 on Tuesday, reaching $18.10. The company's stock had a trading volume of 1,588,530 shares, compared to its average volume of 1,516,471. The firm has a market cap of $1.13 billion, a PE ratio of -113.13 and a beta of 2.10. The business's 50-day moving average price is $16.82 and its two-hundred day moving average price is $11.01. MacroGenics has a 1-year low of $4.29 and a 1-year high of $21.88.

MacroGenics (NASDAQ:MGNX - Get Free Report) last released its earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.49). MacroGenics had a negative net margin of 15.42% and a negative return on equity of 88.49%. The firm had revenue of $10.72 million during the quarter, compared to the consensus estimate of $25.70 million. During the same quarter in the previous year, the firm posted $0.21 EPS. As a group, sell-side analysts expect that MacroGenics will post -2.79 EPS for the current year.

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.