Brokerages Set MacroGenics, Inc. (NASDAQ:MGNX) Target Price at $7.63

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have earned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Eight 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 company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $7.38.

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

MacroGenics Stock Down 5.1 %

Shares of MGNX stock opened at $1.48 on Friday. MacroGenics has a fifty-two week low of $1.46 and a fifty-two week high of $19.54. The firm’s 50 day moving average price is $2.54 and its two-hundred day moving average price is $3.17. The stock has a market cap of $93.37 million, a price-to-earnings ratio of -0.94 and a beta of 2.12.

MacroGenics (NASDAQ:MGNX) last posted its 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 net margin of 69.07% and a negative return on equity of 89.42%. The business had revenue of $49.40 million for the quarter, compared to analyst estimates of $34.17 million. On average, equities analysts forecast that MacroGenics will post -1.06 EPS for the current fiscal year.

Hedge Funds Weigh In On MacroGenics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in MacroGenics by 5.4% in the fourth quarter. Wellington Management Group LLP now owns 323,857 shares of the biopharmaceutical company’s stock valued at $1,053,000 after acquiring an additional 16,717 shares in the last quarter. Frazier Life Sciences Management L.P. raised its stake in shares of MacroGenics by 5.5% in the 4th 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 purchasing an additional 164,938 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of MacroGenics by 7.1% during the fourth quarter. Two Sigma Advisers LP now owns 1,118,600 shares of the biopharmaceutical company’s stock worth $3,635,000 after purchasing an additional 74,596 shares during the last quarter. ProShare Advisors LLC grew its stake in MacroGenics by 32.4% in the fourth quarter. ProShare Advisors LLC now owns 20,284 shares of the biopharmaceutical company’s stock worth $66,000 after purchasing an additional 4,963 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in MacroGenics in the fourth quarter valued at about $32,000. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

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.