MacroGenics (NASDAQ:MGNX) Given New $3.00 Price Target at B. Riley

MacroGenics (NASDAQ:MGNX) had its price objective reduced by B. Riley from $5.00 to $3.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

Several other research firms also recently commented on MGNX. HC Wainwright lowered their price objective on shares of MacroGenics from $4.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. StockNews.com downgraded shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Stifel Nicolaus decreased their target price on shares of MacroGenics from $6.00 to $5.00 and set a “hold” rating for the company in a research report on Wednesday, May 14th. Finally, Barclays restated an “overweight” rating and set a $3.00 target price (down from $8.00) on shares of MacroGenics in a research report on Wednesday, May 14th. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MacroGenics has a consensus rating of “Hold” and a consensus price target of $6.13.

MacroGenics Trading Down 1.3%

NASDAQ:MGNX opened at $1.57 on Tuesday. MacroGenics has a 12 month low of $0.99 and a 12 month high of $5.77. The firm has a fifty day simple moving average of $1.53 and a 200-day simple moving average of $2.57. The company has a market capitalization of $99.05 million, a P/E ratio of -0.99 and a beta of 2.20.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.04). MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. The company had revenue of $13.19 million for the quarter, compared to analyst estimates of $9.59 million. Equities analysts forecast that MacroGenics will post -1.06 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Armistice Capital LLC increased its holdings in MacroGenics by 0.3% in the first quarter. Armistice Capital LLC now owns 6,296,000 shares of the biopharmaceutical company’s stock valued at $7,996,000 after buying an additional 20,000 shares in the last quarter. Wasatch Advisors LP increased its holdings in MacroGenics by 37.6% in the fourth quarter. Wasatch Advisors LP now owns 3,488,493 shares of the biopharmaceutical company’s stock valued at $11,338,000 after buying an additional 952,691 shares in the last quarter. Frazier Life Sciences Management L.P. increased its holdings in MacroGenics by 5.5% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,175,665 shares of the biopharmaceutical company’s stock valued at $10,321,000 after buying an additional 164,938 shares in the last quarter. Geode Capital Management LLC increased its holdings in MacroGenics by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,433,217 shares of the biopharmaceutical company’s stock valued at $4,659,000 after buying an additional 26,341 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in MacroGenics by 7.1% in the fourth quarter. Two Sigma Advisers LP now owns 1,118,600 shares of the biopharmaceutical company’s stock valued at $3,635,000 after buying an additional 74,596 shares in the last quarter. Hedge funds and other institutional investors 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.