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

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have received an average rating of “Hold” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $5.50.

Several analysts have issued reports on MGNX shares. B. Riley Financial upgraded MacroGenics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $3.00 to $9.00 in a research note on Friday, April 10th. Weiss Ratings restated a “sell (d-)” rating on shares of MacroGenics in a research note on Friday, May 8th. Finally, Barclays increased their target price on shares of MacroGenics from $4.00 to $6.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th.

Institutional Investors Weigh In On MacroGenics

Several institutional investors have recently made changes to their positions in MGNX. Jefferies Financial Group Inc. purchased a new stake in MacroGenics during the 4th quarter worth about $2,964,000. Renaissance Technologies LLC grew its holdings in MacroGenics by 71.0% during the 4th quarter. Renaissance Technologies LLC now owns 2,908,631 shares of the biopharmaceutical company’s stock valued at $4,683,000 after buying an additional 1,207,408 shares in the last quarter. Marshall Wace LLP grew its holdings in MacroGenics by 104.0% during the 4th quarter. Marshall Wace LLP now owns 1,284,563 shares of the biopharmaceutical company’s stock valued at $2,068,000 after buying an additional 655,028 shares in the last quarter. Bank of America Corp DE increased its position in shares of MacroGenics by 30.7% during the first quarter. Bank of America Corp DE now owns 2,401,814 shares of the biopharmaceutical company’s stock valued at $6,941,000 after buying an additional 564,094 shares during the period. Finally, Jane Street Group LLC increased its position 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 valued at $917,000 after buying an additional 511,777 shares during the period. Hedge funds and other institutional investors own 96.89% of the company’s stock.

MacroGenics Price Performance

MGNX opened at $3.90 on Monday. MacroGenics has a twelve month low of $1.29 and a twelve month high of $5.08. The company’s 50-day moving average price is $4.24 and its two-hundred day moving average price is $3.28. The stock has a market cap of $247.88 million, a price-to-earnings ratio of -3.55 and a beta of 1.20.

MacroGenics (NASDAQ:MGNX) last issued its quarterly 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 $20.77 million for the quarter, compared to analysts’ expectations of $15.24 million. As a group, sell-side analysts anticipate that MacroGenics will post -1.76 earnings per share 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.