HC Wainwright Has Lowered Expectations for MacroGenics (NASDAQ:MGNX) Stock Price

MacroGenics (NASDAQ:MGNX) had its price objective lowered by equities research analysts at HC Wainwright from $4.00 to $2.00 in a research note issued on Tuesday, Marketbeat Ratings reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 28.21% from the stock’s previous close.

Separately, StockNews.com downgraded MacroGenics from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Nine analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, MacroGenics currently has an average rating of “Hold” and a consensus target price of $7.38.

MacroGenics Stock Down 12.8 %

NASDAQ MGNX opened at $1.56 on Tuesday. The business’s 50-day moving average price is $2.57 and its 200 day moving average price is $3.19. The firm has a market cap of $97.91 million, a P/E ratio of -0.99 and a beta of 2.12. MacroGenics has a 52-week low of $1.55 and a 52-week high of $19.54.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results 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 return on equity of 89.42% and a negative net margin of 69.07%. The company had revenue of $49.40 million for the quarter, compared to analyst estimates of $34.17 million. As a group, analysts anticipate that MacroGenics will post -1.06 earnings per share for the current year.

Institutional Investors Weigh In On MacroGenics

A number of large investors have recently bought and sold shares of the stock. Wasatch Advisors LP raised its holdings in shares of MacroGenics by 37.6% in the fourth quarter. Wasatch Advisors LP now owns 3,488,493 shares of the biopharmaceutical company’s stock worth $11,338,000 after acquiring an additional 952,691 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of MacroGenics during the fourth quarter worth about $2,787,000. JPMorgan Chase & Co. raised its position in shares of MacroGenics by 68.3% in the fourth quarter. JPMorgan Chase & Co. now owns 546,807 shares of the biopharmaceutical company’s stock valued at $1,777,000 after buying an additional 221,905 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of MacroGenics by 69.1% during the fourth quarter. Renaissance Technologies LLC now owns 538,523 shares of the biopharmaceutical company’s stock valued at $1,750,000 after buying an additional 220,100 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in 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 period. Institutional investors and hedge funds own 96.89% of the company’s stock.

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.