MacroGenics, Inc. (NASDAQ:MGNX) Receives Average Recommendation of “Hold” from Brokerages

MacroGenics, Inc. (NASDAQ:MGNX) has earned a consensus recommendation of “Hold” from the seven brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $5.50.

A number of equities analysts have recently weighed in on the company. B. Riley Financial raised MacroGenics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $3.00 to $9.00 in a research note on Friday, April 10th. Wall Street Zen raised MacroGenics from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Barclays upped their price objective on MacroGenics from $4.00 to $6.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Citigroup reaffirmed a “market perform” rating on shares of MacroGenics in a research note on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MacroGenics in a research note on Friday, May 8th.

MacroGenics Stock Performance

NASDAQ:MGNX opened at $4.52 on Wednesday. The stock has a 50-day simple moving average of $3.25 and a two-hundred day simple moving average of $2.21. MacroGenics has a 52-week low of $1.18 and a 52-week high of $4.64. The firm has a market capitalization of $287.29 million, a PE ratio of -4.11 and a beta of 1.08.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Thursday, May 14th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.01). The business had revenue of $20.78 million during the quarter, compared to the consensus estimate of $15.24 million. MacroGenics had a negative return on equity of 147.80% and a negative net margin of 44.79%. Equities analysts forecast that MacroGenics will post -1.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MacroGenics

A number of hedge funds have recently made changes to their positions in the business. Invesco Ltd. lifted its position in shares of MacroGenics by 90.0% in the first quarter. Invesco Ltd. now owns 68,377 shares of the biopharmaceutical company’s stock worth $87,000 after buying an additional 32,398 shares in the last quarter. Amundi purchased a new stake in shares of MacroGenics in the first quarter worth about $272,000. Jones Financial Companies Lllp lifted its position in shares of MacroGenics by 456,243.3% in the first quarter. Jones Financial Companies Lllp now owns 136,903 shares of the biopharmaceutical company’s stock worth $174,000 after buying an additional 136,873 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of MacroGenics by 2,970.9% in the second quarter. Russell Investments Group Ltd. now owns 49,564 shares of the biopharmaceutical company’s stock worth $59,000 after buying an additional 47,950 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of MacroGenics in the second quarter worth about $30,000. Institutional investors own 96.89% of the company’s stock.

MacroGenics Company Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.