According to Zacks, “MacroGenics Inc. is a biopharmaceutical company. It is focused on discovering and developing innovative monoclonal antibody-based therapeutics. The Company has a diverse portfolio of product candidates focused in three therapeutic areas: oncology, autoimmune disorders and infectious diseases. MacroGenics Inc. is headquartered in Rockville, Maryland. “
MGNX has been the topic of a number of other research reports. Nomura reissued a “buy” rating and issued a $50.00 price target on shares of MacroGenics in a research note on Thursday, December 12th. Cantor Fitzgerald began coverage on MacroGenics in a research note on Wednesday, December 18th. They issued an “overweight” rating and a $17.00 price target on the stock. Citigroup cut their price target on MacroGenics from $39.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of MacroGenics in a research note on Friday, December 20th. Finally, Morgan Stanley downgraded MacroGenics from an “equal” rating to an “equal weight” rating and cut their price target for the company from $17.00 to $6.00 in a research note on Thursday, November 21st. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. MacroGenics has an average rating of “Buy” and an average price target of $22.98.
MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.91) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.94) by $0.03. The firm had revenue of $18.74 million for the quarter, compared to analyst estimates of $23.33 million. MacroGenics had a negative return on equity of 59.67% and a negative net margin of 303.08%. As a group, research analysts forecast that MacroGenics will post -3.4 EPS for the current year.
Several hedge funds have recently bought and sold shares of MGNX. Marshall Wace North America L.P. acquired a new stake in MacroGenics during the 1st quarter worth $59,000. Marshall Wace LLP acquired a new stake in MacroGenics during the 1st quarter worth $80,000. Tower Research Capital LLC TRC acquired a new stake in MacroGenics during the 3rd quarter worth $94,000. Alpine Global Management LLC acquired a new stake in MacroGenics during the 4th quarter worth $135,000. Finally, Metropolitan Life Insurance Co NY raised its stake in MacroGenics by 23.4% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 16,259 shares of the biopharmaceutical company’s stock worth $207,000 after buying an additional 3,081 shares during the period. 94.92% of the stock is currently owned by institutional investors.
MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.
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