MacroGenics, Inc. (NASDAQ:MGNX) Given Average Recommendation of “Hold” by Analysts

MacroGenics, Inc. (NASDAQ:MGNX) has been given a consensus recommendation of “Hold” by the eleven research firms that are presently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $7.38.

A number of equities research analysts have issued reports on the stock. HC Wainwright cut their price target on shares of MacroGenics from $4.00 to $2.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. StockNews.com downgraded MacroGenics from a “buy” rating to a “hold” rating in a report on Friday, March 21st.

MacroGenics Stock Performance

Shares of MacroGenics stock opened at $1.39 on Tuesday. The stock’s 50-day simple moving average is $1.90 and its 200 day simple moving average is $2.89. The stock has a market capitalization of $87.70 million, a P/E ratio of -0.88 and a beta of 2.23. MacroGenics has a 52-week low of $0.99 and a 52-week high of $16.59.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The company had revenue of $49.40 million during the quarter, compared to analysts’ expectations of $34.17 million. MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. Equities research analysts forecast that MacroGenics will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

Large investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC grew its holdings in MacroGenics by 19.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 58,434 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 9,611 shares in the last quarter. Wellington Management Group LLP lifted its position in MacroGenics by 5.4% during the fourth quarter. Wellington Management Group LLP now owns 323,857 shares of the biopharmaceutical company’s stock valued at $1,053,000 after purchasing an additional 16,717 shares during the last quarter. Frazier Life Sciences Management L.P. grew 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 worth $10,321,000 after buying an additional 164,938 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of MacroGenics by 7.1% in the 4th quarter. Two Sigma Advisers LP now owns 1,118,600 shares of the biopharmaceutical company’s stock worth $3,635,000 after buying an additional 74,596 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of MacroGenics by 32.4% in the 4th quarter. ProShare Advisors LLC now owns 20,284 shares of the biopharmaceutical company’s stock valued at $66,000 after acquiring an additional 4,963 shares during the last quarter. 96.89% of the stock is owned by institutional investors.

MacroGenics Company Profile

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.