MacroGenics' (MGNX) "Market Outperform" Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of MacroGenics (NASDAQ:MGNX - Free Report) in a research note released on Thursday morning, Benzinga reports.

Other analysts also recently issued research reports about the stock. TheStreet downgraded shares of MacroGenics from a c rating to a d rating in a report on Thursday, March 7th. Citigroup raised MacroGenics from a neutral rating to a buy rating and lifted their price target for the stock from $7.00 to $13.00 in a report on Wednesday, December 20th. Barclays lifted their price target on MacroGenics from $12.00 to $23.00 and gave the stock an overweight rating in a report on Thursday, February 29th. HC Wainwright lowered 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 report on Wednesday, February 14th. Finally, BTIG Research raised their price target on shares of MacroGenics from $12.00 to $24.00 and gave the stock a buy rating in a research report on Monday, March 4th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, MacroGenics presently has an average rating of Moderate Buy and a consensus price target of $17.00.

MacroGenics Trading Up 30.1 %

Shares of MacroGenics stock traded up $4.11 during trading on Thursday, reaching $17.78. The stock had a trading volume of 6,806,519 shares, compared to its average volume of 1,492,093. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -109.69 and a beta of 2.09. The stock has a fifty day moving average price of $16.44 and a two-hundred day moving average price of $10.59. MacroGenics has a 52 week low of $4.29 and a 52 week high of $21.88.

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

Insider Buying and Selling at MacroGenics

In other MacroGenics news, SVP Ezio Bonvini sold 13,316 shares of the business's stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $12.00, for a total transaction of $159,792.00. Following the completion of the transaction, the senior vice president now owns 87,984 shares of the company's stock, valued at $1,055,808. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other MacroGenics news, VP Jeffrey Stuart Peters sold 16,124 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $17.22, for a total transaction of $277,655.28. Following the sale, the vice president now owns 8,895 shares of the company's stock, valued at $153,171.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Ezio Bonvini sold 13,316 shares of the business's stock in a transaction on Friday, January 19th. The stock was sold at an average price of $12.00, for a total transaction of $159,792.00. Following the sale, the senior vice president now directly owns 87,984 shares in the company, valued at approximately $1,055,808. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,756 shares of company stock valued at $637,187. 10.00% of the stock is currently owned by corporate insiders.

Institutional Trading of MacroGenics

A number of hedge funds have recently made changes to their positions in MGNX. Point72 Middle East FZE bought a new position in shares of MacroGenics during the fourth quarter valued at $28,000. Royal Bank of Canada increased its stake in shares of MacroGenics by 57.1% in the second quarter. Royal Bank of Canada now owns 5,922 shares of the biopharmaceutical company's stock valued at $32,000 after buying an additional 2,153 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of MacroGenics by 74.1% in the third quarter. Tower Research Capital LLC TRC now owns 8,524 shares of the biopharmaceutical company's stock valued at $40,000 after buying an additional 3,628 shares during the period. Ensign Peak Advisors Inc acquired a new stake in shares of MacroGenics in the third quarter valued at about $41,000. Finally, AJOVista LLC acquired a new stake in shares of MacroGenics in the fourth quarter valued at about $51,000. 96.89% of the stock is owned by institutional investors and hedge funds.

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.