MacroGenics, Inc. (NASDAQ:MGNX) Receives $7.63 Average PT from Brokerages

MacroGenics, Inc. (NASDAQ:MGNX) has earned an average rating of “Hold” from the eleven ratings firms that are covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $7.38.

Several research firms have recently weighed in on MGNX. StockNews.com cut MacroGenics from a “buy” rating to a “hold” rating in a report on Friday, March 21st. HC Wainwright reduced their price target on shares of MacroGenics from $4.00 to $2.00 and set a “neutral” rating for the company in a research report on Tuesday.

Hedge Funds Weigh In On MacroGenics

Several large investors have recently made changes to their positions in MGNX. Lazard Asset Management LLC purchased a new position in MacroGenics in the 4th quarter worth approximately $32,000. XTX Topco Ltd purchased a new position in MacroGenics during the third quarter valued at $37,000. American Century Companies Inc. purchased a new stake in MacroGenics in the 4th quarter worth $38,000. Sanders Morris Harris LLC purchased a new position in shares of MacroGenics during the fourth quarter valued at about $40,000. Finally, Jump Financial LLC purchased a new stake in shares of MacroGenics in the fourth quarter worth about $44,000. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

MacroGenics Price Performance

Shares of NASDAQ:MGNX opened at $1.79 on Friday. MacroGenics has a 1 year low of $1.76 and a 1 year high of $19.54. The stock’s fifty day moving average price is $2.61 and its 200-day moving average price is $3.20. The company has a market cap of $112.35 million, a P/E ratio of -1.13 and a beta of 2.12.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. The company had revenue of $49.40 million for the quarter, compared to analysts’ expectations of $34.17 million. On average, sell-side analysts anticipate that MacroGenics will post -1.06 earnings per share 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.