MacroGenics (NASDAQ:MGNX) Earns Buy Rating from HC Wainwright

MacroGenics (NASDAQ:MGNX)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report released on Monday, Price Targets.com reports. They currently have a $41.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 93.31% from the stock’s previous close.

MGNX has been the topic of several other reports. BTIG Research started coverage on shares of MacroGenics in a report on Wednesday, June 16th. They set a “buy” rating on the stock. SVB Leerink reiterated a “buy” rating on shares of MacroGenics in a research note on Sunday. Zacks Investment Research upgraded shares of MacroGenics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 17th. Finally, Wedbush lowered their price target on shares of MacroGenics from $39.00 to $34.00 and set an “outperform” rating on the stock in a research report on Monday, June 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $32.17.

NASDAQ:MGNX opened at $21.21 on Monday. The firm has a 50-day moving average of $24.07 and a 200-day moving average of $27.52. The company has a market cap of $1.30 billion, a PE ratio of -9.64 and a beta of 2.23. MacroGenics has a one year low of $18.16 and a one year high of $36.48.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Thursday, July 29th. The biopharmaceutical company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.38). The business had revenue of $30.76 million for the quarter, compared to the consensus estimate of $35.55 million. MacroGenics had a negative return on equity of 41.16% and a negative net margin of 109.07%. As a group, equities research analysts predict that MacroGenics will post -2.86 earnings per share for the current year.

In other news, SVP Thomas Spitznagel sold 5,000 shares of the stock in a transaction on Friday, July 16th. The shares were sold at an average price of $25.01, for a total value of $125,050.00. Following the transaction, the senior vice president now owns 5,000 shares of the company’s stock, valued at approximately $125,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Target N. V. Biotech purchased 400,000 shares of the firm’s stock in a transaction dated Thursday, September 16th. The stock was bought at an average cost of $20.94 per share, for a total transaction of $8,376,000.00. The disclosure for this purchase can be found here. Corporate insiders own 7.90% of the company’s stock.

Large investors have recently modified their holdings of the company. Rafferty Asset Management LLC boosted its stake in shares of MacroGenics by 10.8% in the 2nd quarter. Rafferty Asset Management LLC now owns 122,291 shares of the biopharmaceutical company’s stock valued at $3,285,000 after purchasing an additional 11,922 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of MacroGenics by 45.6% in the 1st quarter. Squarepoint Ops LLC now owns 75,998 shares of the biopharmaceutical company’s stock valued at $2,421,000 after purchasing an additional 23,803 shares in the last quarter. Swiss National Bank boosted its stake in shares of MacroGenics by 5.0% in the 1st quarter. Swiss National Bank now owns 122,000 shares of the biopharmaceutical company’s stock valued at $3,886,000 after purchasing an additional 5,800 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of MacroGenics in the 2nd quarter valued at $62,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of MacroGenics by 4.8% in the 1st quarter. Ameriprise Financial Inc. now owns 24,909 shares of the biopharmaceutical company’s stock valued at $793,000 after purchasing an additional 1,131 shares in the last quarter. 93.67% of the stock is currently owned by hedge funds and other institutional investors.

MacroGenics Company Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company, which engages in discovering and developing antibody-based therapeutics designed to modulate the human immune response for the treatment of cancer. Its product pipeline includes Margetuximab, Flotetuzumab, Retifanlimab, Enoblituzumab, Tebotelimab, MGC018, MGD019, IMGC936, and MGD014 for infectious diseases.

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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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