HC Wainwright set a $34.00 price target on MacroGenics (NASDAQ:MGNX) in a research report sent to investors on Wednesday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Several other research analysts have also recently weighed in on the company. Zacks Investment Research raised MacroGenics from a hold rating to a buy rating and set a $19.00 price objective on the stock in a research report on Tuesday, November 13th. ValuEngine cut MacroGenics from a buy rating to a hold rating in a research report on Friday, October 26th. BidaskClub raised MacroGenics from a strong sell rating to a sell rating in a research report on Friday, October 19th. Finally, BTIG Research began coverage on MacroGenics in a research report on Monday, September 10th. They issued a buy rating and a $30.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. MacroGenics currently has a consensus rating of Buy and a consensus price target of $31.00.
Shares of NASDAQ:MGNX opened at $16.41 on Wednesday. MacroGenics has a 12-month low of $15.45 and a 12-month high of $32.74. The company has a market cap of $701.50 million, a P/E ratio of -30.39 and a beta of 2.52.
Hedge funds and other institutional investors have recently modified their holdings of the company. BB Biotech AG lifted its position in shares of MacroGenics by 2.3% during the 2nd quarter. BB Biotech AG now owns 2,660,412 shares of the biopharmaceutical company’s stock valued at $54,938,000 after buying an additional 60,000 shares during the last quarter. BlackRock Inc. lifted its position in shares of MacroGenics by 17.5% during the 2nd quarter. BlackRock Inc. now owns 3,122,067 shares of the biopharmaceutical company’s stock valued at $64,472,000 after buying an additional 465,948 shares during the last quarter. Stanley Laman Group Ltd. purchased a new position in shares of MacroGenics during the 2nd quarter valued at $462,000. State of Wisconsin Investment Board lifted its position in shares of MacroGenics by 59.6% during the 2nd quarter. State of Wisconsin Investment Board now owns 39,900 shares of the biopharmaceutical company’s stock valued at $824,000 after buying an additional 14,900 shares during the last quarter. Finally, Bellevue Group AG raised its stake in shares of MacroGenics by 6.0% during the 2nd quarter. Bellevue Group AG now owns 596,913 shares of the biopharmaceutical company’s stock valued at $12,326,000 after purchasing an additional 33,762 shares during the period. 86.97% of the stock is currently owned by hedge funds and other institutional investors.
MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, and autoimmune disorders and infectious diseases in the United States. The company's advanced clinical product candidate is Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets human epidermal growth factor receptor 2-expressing tumors, such as various breast and gastroesophageal cancers.
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