MacroGenics, Inc. (NASDAQ:MGNX) Receives Average Recommendation of “Moderate Buy” from Analysts

MacroGenics, Inc. (NASDAQ:MGNX) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $3.60.

Several brokerages have recently issued reports on MGNX. Weiss Ratings reissued a “sell (d-)” rating on shares of MacroGenics in a research report on Monday, December 22nd. Zacks Research upgraded MacroGenics from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 13th. HC Wainwright reissued a “neutral” rating and issued a $2.00 price target on shares of MacroGenics in a research note on Monday, November 3rd. Finally, Barclays assumed coverage on MacroGenics in a report on Wednesday, September 17th. They issued an “overweight” rating and a $3.00 price target on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its stake in shares of MacroGenics by 55.9% during the 3rd quarter. SG Americas Securities LLC now owns 17,179 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 6,161 shares during the last quarter. Cresset Asset Management LLC raised its holdings in MacroGenics by 52.3% during the second quarter. Cresset Asset Management LLC now owns 26,720 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 9,172 shares in the last quarter. State of Wyoming boosted its position in MacroGenics by 41.8% during the second quarter. State of Wyoming now owns 31,557 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 9,295 shares during the last quarter. Vanguard Group Inc. grew its stake in MacroGenics by 0.3% in the third quarter. Vanguard Group Inc. now owns 4,224,234 shares of the biopharmaceutical company’s stock valued at $7,097,000 after purchasing an additional 11,120 shares in the last quarter. Finally, XML Financial LLC increased its position in shares of MacroGenics by 68.7% during the 2nd quarter. XML Financial LLC now owns 32,336 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 13,167 shares during the last quarter. Institutional investors own 96.89% of the company’s stock.

MacroGenics Price Performance

NASDAQ MGNX opened at $1.61 on Friday. MacroGenics has a one year low of $0.99 and a one year high of $3.60. The firm has a market cap of $101.85 million, a P/E ratio of -1.34 and a beta of 1.52. The stock’s 50-day moving average is $1.54 and its 200-day moving average is $1.57.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Wednesday, November 12th. The biopharmaceutical company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.75. MacroGenics had a negative return on equity of 98.30% and a negative net margin of 59.46%.The business had revenue of $72.84 million during the quarter, compared to analysts’ expectations of $28.72 million. Equities analysts anticipate that MacroGenics will post -1.06 EPS for the current year.

About MacroGenics

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.