MacroGenics (NASDAQ:MGNX) had its price target raised by investment analysts at Wedbush from $14.00 to $16.00 in a research report issued on Tuesday, BenzingaRatingsTable reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush’s price target indicates a potential upside of 42.10% from the stock’s current price.
MGNX has been the subject of a number of other reports. Citigroup dropped their price target on shares of MacroGenics from $39.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Zacks Investment Research upgraded shares of MacroGenics from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Thursday, January 9th. BidaskClub upgraded shares of MacroGenics from a “sell” rating to a “hold” rating in a research report on Friday, December 20th. BTIG Research reiterated a “positive” rating and issued a $23.00 price target on shares of MacroGenics in a research report on Thursday, December 12th. Finally, Cantor Fitzgerald began coverage on shares of MacroGenics in a research report on Wednesday, December 18th. They issued an “overweight” rating and a $17.00 price target for the company. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. MacroGenics has an average rating of “Buy” and an average target price of $22.98.
Shares of NASDAQ MGNX opened at $11.26 on Tuesday. The firm has a 50 day moving average of $10.66 and a 200 day moving average of $12.02. The company has a current ratio of 4.79, a quick ratio of 4.79 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $551.27 million, a price-to-earnings ratio of -3.12 and a beta of 2.31. MacroGenics has a 12-month low of $7.43 and a 12-month high of $32.32.
MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.94) by $0.03. The business had revenue of $18.74 million during the quarter, compared to analyst estimates of $23.33 million. MacroGenics had a negative net margin of 303.08% and a negative return on equity of 59.67%. Sell-side analysts predict that MacroGenics will post -3.4 EPS for the current year.
Several large investors have recently modified their holdings of the stock. Marshall Wace North America L.P. purchased a new stake in MacroGenics during the first quarter valued at $59,000. Marshall Wace LLP purchased a new position in MacroGenics in the 1st quarter worth about $80,000. Tower Research Capital LLC TRC purchased a new position in MacroGenics in the 3rd quarter worth about $94,000. Alpine Global Management LLC purchased a new position in MacroGenics in the 4th quarter worth about $135,000. Finally, Metropolitan Life Insurance Co NY increased its stake in MacroGenics by 23.4% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 16,259 shares of the biopharmaceutical company’s stock worth $207,000 after buying an additional 3,081 shares during the period. Hedge funds and other institutional investors own 94.92% of the company’s stock.
MacroGenics Company Profile
MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.
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