MacroGenics, Inc. (NASDAQ:MGNX) Receives $18.00 Average Target Price from Brokerages

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been given a consensus rating of “Moderate Buy” by the nine analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $18.00.

A number of brokerages have recently commented on MGNX. TD Cowen raised shares of MacroGenics from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. TheStreet cut MacroGenics from a “c” rating to a “d” rating in a report on Thursday, March 7th. B. Riley initiated coverage on MacroGenics in a research report on Friday, April 26th. They set a “buy” rating and a $25.00 price target for the company. BTIG Research boosted their price target on MacroGenics from $12.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, HC Wainwright downgraded MacroGenics from a “buy” rating to a “neutral” rating and increased their price objective for the company from $12.00 to $14.00 in a report on Wednesday, February 14th.

Insider Buying and Selling at MacroGenics

In related news, VP Jeffrey Stuart Peters sold 51,395 shares of MacroGenics stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $15.55, for a total transaction of $799,192.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.30% of the company’s stock.

Institutional Trading of MacroGenics

Several institutional investors have recently added to or reduced their stakes in MGNX. ProShare Advisors LLC lifted its holdings in shares of MacroGenics by 8.9% during the first quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock worth $225,000 after buying an additional 1,246 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its stake in MacroGenics by 597.4% in the 1st quarter. Susquehanna Fundamental Investments LLC now owns 105,787 shares of the biopharmaceutical company’s stock worth $1,557,000 after purchasing an additional 90,619 shares in the last quarter. Swiss National Bank bought a new stake in MacroGenics in the 1st quarter valued at about $1,351,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of MacroGenics by 15.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,060 shares of the biopharmaceutical company’s stock worth $840,000 after purchasing an additional 7,723 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of MacroGenics by 28.6% during the first quarter. Principal Financial Group Inc. now owns 344,603 shares of the biopharmaceutical company’s stock worth $5,073,000 after purchasing an additional 76,727 shares during the period. 96.89% of the stock is currently owned by institutional investors.

MacroGenics Trading Down 8.7 %

Shares of NASDAQ MGNX opened at $14.66 on Friday. The company has a fifty day moving average price of $16.38 and a 200 day moving average price of $12.61. MacroGenics has a 1-year low of $4.29 and a 1-year high of $21.88. The firm has a market cap of $917.14 million, a PE ratio of -91.63 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.49). The firm had revenue of $10.72 million for the quarter, compared to the consensus estimate of $25.70 million. MacroGenics had a negative return on equity of 88.49% and a negative net margin of 15.42%. During the same quarter in the previous year, the business posted $0.21 earnings per share. Equities research analysts forecast that MacroGenics will post -2.7 EPS for the current year.

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.