MacroGenics, Inc. (NASDAQ:MGNX) Receives $3.60 Consensus PT from Analysts

MacroGenics, Inc. (NASDAQ:MGNX) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $3.60.

A number of brokerages have recently issued reports on MGNX. Zacks Research lowered MacroGenics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. HC Wainwright reissued a “neutral” rating and set a $2.00 target price on shares of MacroGenics in a research note on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MacroGenics in a research note on Monday, December 22nd.

Institutional Trading of MacroGenics

A number of institutional investors have recently made changes to their positions in the company. EcoR1 Capital LLC acquired a new position in MacroGenics in the 2nd quarter valued at $1,939,000. Jane Street Group LLC grew its holdings in shares of MacroGenics by 207.7% during the second quarter. Jane Street Group LLC now owns 758,204 shares of the biopharmaceutical company’s stock worth $917,000 after buying an additional 511,777 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of MacroGenics by 595.0% during the third quarter. Squarepoint Ops LLC now owns 385,633 shares of the biopharmaceutical company’s stock worth $648,000 after buying an additional 330,150 shares in the last quarter. Voleon Capital Management LP acquired a new stake in shares of MacroGenics in the third quarter valued at about $516,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of MacroGenics by 64.1% in the third quarter. JPMorgan Chase & Co. now owns 755,245 shares of the biopharmaceutical company’s stock worth $1,269,000 after buying an additional 295,108 shares in the last quarter. 96.89% of the stock is owned by institutional investors and hedge funds.

MacroGenics Stock Performance

Shares of MacroGenics stock opened at $1.72 on Thursday. The firm has a 50-day simple moving average of $1.54 and a two-hundred day simple moving average of $1.61. MacroGenics has a fifty-two week low of $0.99 and a fifty-two week high of $3.37. The company has a market cap of $108.81 million, a P/E ratio of -1.43 and a beta of 1.51.

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

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.