Equities researchers at Wedbush initiated coverage on shares of MacroGenics (NASDAQ:MGNX) in a research report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $70.00 price target on the stock. Wedbush’s price objective suggests a potential upside of 173.01% from the company’s current price.
The analysts wrote, “Novel immunoregulatory therapeutics (PD1, PDL1, CTLA4, IDO, B7-H3, CD-27, CD-47) are elevating the likelihood for unprecedented efficacy for next-generation antibody and antibody-like therapies that appropriately target and recruit the immune system to treat cancer.”
A number of other analysts have also recently weighed in on MGNX. Analysts at Lazard Capital Markets initiated coverage on shares of MacroGenics in a research note to investors on Monday, November 4th. They set a “buy” rating on the stock. Separately, analysts at Stifel Nicolaus initiated coverage on shares of MacroGenics in a research note to investors on Monday, November 4th. They set a “buy” rating and a $35.00 price target on the stock. Finally, analysts at Leerink Swann initiated coverage on shares of MacroGenics in a research note to investors on Monday, November 4th. They set an “outperform” rating and a $34.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. MacroGenics has an average rating of “Buy” and an average price target of $42.25.
Shares of MacroGenics (NASDAQ:MGNX) opened at 25.64 on Tuesday. MacroGenics has a 52-week low of $21.50 and a 52-week high of $30.25. The stock’s 50-day moving average is $26.07 and its 200-day moving average is $26.02. The company has a market cap of $641.5 million and a P/E ratio of 66.23.
MacroGenics (NASDAQ:MGNX) last announced its earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.14. Analysts expect that MacroGenics will post $-0.73 EPS for the current fiscal year.
MacroGenics, Inc is a clinical-stage biopharmaceutical company. The Company focuses on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer and autoimmune diseases.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.