MacroGenics, Inc. (NASDAQ:MGNX) Receives Average Recommendation of “Hold” from Analysts

MacroGenics, Inc. (NASDAQ:MGNX) has earned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $7.63.

Separately, StockNews.com lowered shares of MacroGenics from a “buy” rating to a “hold” rating in a report on Friday.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC purchased a new stake in shares of MacroGenics in the fourth quarter valued at approximately $32,000. XTX Topco Ltd acquired a new stake in shares of MacroGenics in the 3rd quarter worth $37,000. American Century Companies Inc. purchased a new position in shares of MacroGenics during the 4th quarter worth $38,000. Sanders Morris Harris LLC purchased a new position in shares of MacroGenics during the 4th quarter worth $40,000. Finally, Jump Financial LLC purchased a new stake in shares of MacroGenics in the fourth quarter valued at about $44,000. 96.89% of the stock is owned by hedge funds and other institutional investors.

MacroGenics Trading Down 4.8 %

Shares of MacroGenics stock traded down $0.10 during trading hours on Friday, reaching $2.00. The stock had a trading volume of 1,168,086 shares, compared to its average volume of 1,156,806. MacroGenics has a twelve month low of $1.89 and a twelve month high of $19.54. The firm has a market capitalization of $125.53 million, a PE ratio of -1.27 and a beta of 2.12. The stock’s 50 day moving average is $2.66 and its 200 day moving average is $3.22.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The business had revenue of $49.40 million during the quarter, compared to analyst estimates of $34.17 million. MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. As a group, sell-side analysts predict that MacroGenics will post -1.06 earnings per share for the current year.

About MacroGenics

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.