MacroGenics, Inc. (NASDAQ:MGNX) Receives $7.63 Consensus Price Target from Brokerages

MacroGenics, Inc. (NASDAQ:MGNX) has earned an average recommendation of “Hold” from the eleven brokerages that are covering the company, 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 1-year price objective among brokers that have covered the stock in the last year is $7.63.

Several equities analysts recently commented on the stock. StockNews.com raised shares of MacroGenics from a “sell” rating to a “buy” rating in a research note on Sunday, November 10th. Evercore ISI upgraded shares of MacroGenics to a “strong-buy” rating in a research report on Monday, September 16th. HC Wainwright reiterated a “neutral” rating and issued a $4.00 price objective on shares of MacroGenics in a research report on Wednesday, November 6th. Finally, JMP Securities cut MacroGenics from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th.

MacroGenics Stock Up 3.4 %

MGNX stock opened at $3.34 on Friday. The stock has a 50-day simple moving average of $3.68 and a two-hundred day simple moving average of $3.89. MacroGenics has a twelve month low of $2.95 and a twelve month high of $21.88. The firm has a market capitalization of $209.63 million, a PE ratio of -2.11 and a beta of 2.04.

Institutional Trading of MacroGenics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of MacroGenics by 39.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 661,914 shares of the biopharmaceutical company’s stock worth $2,178,000 after acquiring an additional 186,858 shares during the last quarter. Frazier Life Sciences Management L.P. raised its position in MacroGenics by 21.8% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,010,727 shares of the biopharmaceutical company’s stock worth $12,796,000 after purchasing an additional 539,023 shares during the period. Millennium Management LLC lifted its stake in MacroGenics by 3,473.7% in the second quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock worth $14,079,000 after purchasing an additional 3,219,977 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in MacroGenics by 35.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 566,328 shares of the biopharmaceutical company’s stock valued at $1,863,000 after buying an additional 147,438 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of MacroGenics by 1,689.3% during the second quarter. Marshall Wace LLP now owns 658,007 shares of the biopharmaceutical company’s stock valued at $2,797,000 after buying an additional 621,232 shares during the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.

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.