MacroGenics, Inc. (NASDAQ:MGNX) Given Consensus Rating of “Hold” by Analysts

MacroGenics, Inc. (NASDAQ:MGNX) has been assigned a consensus rating of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $8.11.

A number of brokerages recently weighed in on MGNX. B. Riley lowered MacroGenics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $5.00 in a report on Wednesday, July 31st. JMP Securities lowered their target price on MacroGenics from $16.00 to $8.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 31st. HC Wainwright reissued a “neutral” rating and issued a $4.00 target price on shares of MacroGenics in a report on Wednesday, September 18th. StockNews.com lowered MacroGenics from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Evercore ISI raised MacroGenics to a “strong-buy” rating in a report on Monday, September 16th.

Institutional Investors Weigh In On MacroGenics

A number of large investors have recently modified their holdings of the stock. Avoro Capital Advisors LLC acquired a new stake in shares of MacroGenics in the first quarter valued at about $90,528,000. Armistice Capital LLC grew its stake in shares of MacroGenics by 150.0% in the second quarter. Armistice Capital LLC now owns 6,000,000 shares of the biopharmaceutical company’s stock valued at $25,500,000 after buying an additional 3,600,000 shares in the last quarter. Millennium Management LLC grew its stake in shares of MacroGenics by 3,473.7% in the second quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock valued at $14,079,000 after buying an additional 3,219,977 shares in the last quarter. Frazier Life Sciences Management L.P. grew its stake in shares of MacroGenics by 21.8% in the second quarter. Frazier Life Sciences Management L.P. now owns 3,010,727 shares of the biopharmaceutical company’s stock valued at $12,796,000 after buying an additional 539,023 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of MacroGenics by 8,361.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,438,050 shares of the biopharmaceutical company’s stock valued at $35,889,000 after buying an additional 2,409,237 shares in the last quarter. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Price Performance

Shares of MGNX stock opened at $3.87 on Friday. The business’s fifty day moving average price is $3.55 and its 200 day moving average price is $5.45. MacroGenics has a 1-year low of $2.95 and a 1-year high of $21.88. The firm has a market capitalization of $242.73 million, a PE ratio of -1.76 and a beta of 2.08.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). MacroGenics had a negative return on equity of 146.01% and a negative net margin of 332.47%. The business had revenue of $10.80 million for the quarter, compared to analyst estimates of $24.14 million. Equities research analysts expect that MacroGenics will post -1.72 earnings per share for the current fiscal 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.