MacroGenics (NASDAQ:MGNX) Coverage Initiated by Analysts at B. Riley

B. Riley began coverage on shares of MacroGenics (NASDAQ:MGNX) in a report published on Friday morning, MarketBeat.com 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. TheStreet downgraded MacroGenics from a c rating to a d rating in a research report on Thursday, March 7th. BTIG Research boosted their price objective on MacroGenics from $12.00 to $24.00 and gave the company a buy rating in a research report on Monday, March 4th. TD Cowen upgraded MacroGenics from a hold rating to a buy rating in a research report on Tuesday, April 9th. Barclays boosted their price objective on MacroGenics from $12.00 to $23.00 and gave the company an overweight rating in a research report on Thursday, February 29th. Finally, HC Wainwright cut MacroGenics from a buy rating to a neutral rating and boosted their price objective for the company from $12.00 to $14.00 in a research report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, MacroGenics presently has an average rating of Moderate Buy and an average target price of $18.00.

MacroGenics Stock Up 1.3 %

Shares of NASDAQ MGNX opened at $14.56 on Friday. The business’s 50 day moving average is $16.73 and its two-hundred day moving average is $11.91. The company has a market cap of $910.87 million, a P/E ratio of -91.00 and a beta of 2.09. MacroGenics has a 12 month low of $4.29 and a 12 month high of $21.88.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.49). The business had revenue of $10.72 million during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $0.21 earnings per share. Sell-side analysts expect that MacroGenics will post -2.7 earnings per share for the current fiscal year.

Insider Buying and Selling at MacroGenics

In other MacroGenics news, SVP Ezio Bonvini sold 13,316 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $15.00, for a total value of $199,740.00. Following the sale, the senior vice president now directly owns 74,668 shares in the company, valued at $1,120,020. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other MacroGenics news, VP Jeffrey Stuart Peters sold 51,395 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $15.55, for a total value of $799,192.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Ezio Bonvini sold 13,316 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was 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 directly owns 74,668 shares in the company, valued at approximately $1,120,020. The disclosure for this sale can be found here. Insiders have sold 80,835 shares of company stock worth $1,276,588 over the last three months. Company insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On MacroGenics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Diversified Trust Co boosted its stake in MacroGenics by 16.0% in the first quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock worth $201,000 after purchasing an additional 1,880 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of MacroGenics by 0.9% during the third quarter. Principal Financial Group Inc. now owns 275,550 shares of the biopharmaceutical company’s stock valued at $1,284,000 after acquiring an additional 2,335 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of MacroGenics by 7.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,337 shares of the biopharmaceutical company’s stock valued at $475,000 after acquiring an additional 3,319 shares during the period. Sound Income Strategies LLC acquired a new position in shares of MacroGenics during the first quarter valued at $77,000. Finally, AJOVista LLC acquired a new position in shares of MacroGenics during the fourth quarter valued at $51,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

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.