MacroGenics (NASDAQ:MGNX) Earns Buy Rating from Analysts at B. Riley

B. Riley assumed coverage on shares of MacroGenics (NASDAQ:MGNX) in a research note released on Friday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $25.00 price target on the biopharmaceutical company’s stock.

MGNX has been the topic of several other reports. BTIG Research increased their target price on MacroGenics from $12.00 to $24.00 and gave the stock a buy rating in a research report on Monday, March 4th. HC Wainwright cut shares of MacroGenics from a buy rating to a neutral rating and raised their target price for the stock from $12.00 to $14.00 in a research report on Wednesday, February 14th. TD Cowen raised shares of MacroGenics from a hold rating to a buy rating in a research report on Tuesday, April 9th. TheStreet downgraded shares of MacroGenics from a c rating to a d rating in a research note on Thursday, March 7th. Finally, JMP Securities reissued a market outperform rating on shares of MacroGenics in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $18.00.

MacroGenics Trading Up 1.8 %

NASDAQ:MGNX opened at $14.82 on Friday. MacroGenics has a 12-month low of $4.29 and a 12-month high of $21.88. The firm has a market cap of $927.14 million, a price-to-earnings ratio of -92.63 and a beta of 2.10. The company’s 50-day moving average is $16.63 and its two-hundred day moving average is $12.14.

MacroGenics (NASDAQ:MGNX) last announced its earnings results 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 analyst estimates 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 last year, the business posted $0.21 EPS. On average, equities research analysts forecast that MacroGenics will post -2.7 earnings per share for the current fiscal year.

Insider Activity

In other MacroGenics news, SVP Ezio Bonvini sold 13,316 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $15.00, for a total value of $199,740.00. Following the completion of the transaction, the senior vice president now owns 74,668 shares in the company, valued at approximately $1,120,020. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Ezio Bonvini sold 13,316 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $15.00, for a total value of $199,740.00. Following the completion of the sale, the senior vice president now owns 74,668 shares of the company’s stock, valued at $1,120,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeffrey Stuart Peters sold 51,395 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $15.55, for a total transaction of $799,192.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,835 shares of company stock valued at $1,276,588. 11.30% of the stock is currently owned by company insiders.

Institutional Trading of MacroGenics

Large investors have recently added to or reduced their stakes in the business. Perceptive Advisors LLC acquired a new stake in shares of MacroGenics during the fourth quarter valued at approximately $5,887,000. Frazier Life Sciences Management L.P. increased its stake in shares of MacroGenics by 33.2% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,401,704 shares of the biopharmaceutical company’s stock worth $23,104,000 after purchasing an additional 598,500 shares during the last quarter. RA Capital Management L.P. bought a new position in MacroGenics during the third quarter valued at about $1,594,000. Bellevue Group AG raised its stake in shares of MacroGenics by 1.5% in the 4th quarter. Bellevue Group AG now owns 9,953,313 shares of the biopharmaceutical company’s stock valued at $95,751,000 after acquiring an additional 150,000 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in MacroGenics during the third quarter valued at approximately $649,000. 96.89% of the stock is currently owned by 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.