Analysts Set MacroGenics, Inc. (NASDAQ:MGNX) Target Price at $5.50

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have received an average recommendation of “Hold” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $5.50.

MGNX has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of MacroGenics in a research report on Friday, May 8th. Wall Street Zen raised shares of MacroGenics from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Citigroup reissued a “market perform” rating on shares of MacroGenics in a research note on Tuesday, February 24th. B. Riley Financial raised shares of MacroGenics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $3.00 to $9.00 in a research note on Friday, April 10th. Finally, Barclays boosted their price target on shares of MacroGenics from $4.00 to $6.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th.

MacroGenics Stock Performance

Shares of NASDAQ:MGNX opened at $4.13 on Friday. MacroGenics has a 52-week low of $1.18 and a 52-week high of $4.64. The firm has a fifty day moving average of $3.74 and a 200 day moving average of $2.62. The firm has a market capitalization of $262.50 million, a PE ratio of -3.75 and a beta of 1.18.

MacroGenics (NASDAQ:MGNX) last announced its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.01). MacroGenics had a negative return on equity of 147.80% and a negative net margin of 44.79%.The company had revenue of $20.78 million during the quarter, compared to analysts’ expectations of $15.24 million. On average, sell-side analysts forecast that MacroGenics will post -1.76 EPS for the current fiscal year.

Institutional Trading of MacroGenics

Several hedge funds have recently added to or reduced their stakes in the business. Seven Fleet Capital Management LP bought a new stake in MacroGenics in the first quarter worth $39,000. Bank of America Corp DE lifted its stake in MacroGenics by 30.7% in the first quarter. Bank of America Corp DE now owns 2,401,814 shares of the biopharmaceutical company’s stock worth $6,941,000 after purchasing an additional 564,094 shares during the last quarter. ADAR1 Capital Management LLC bought a new stake in MacroGenics in the first quarter worth $116,000. OMERS ADMINISTRATION Corp bought a new stake in MacroGenics in the first quarter worth $144,000. Finally, Affinity Asset Advisors LLC lifted its stake in MacroGenics by 3.2% in the first quarter. Affinity Asset Advisors LLC now owns 500,000 shares of the biopharmaceutical company’s stock worth $1,445,000 after purchasing an additional 15,692 shares during the last quarter. 96.89% of the stock is owned by institutional investors.

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.