MacroGenics, Inc. (NASDAQ:MGNX) Receives Consensus Recommendation of “Hold” from Analysts

MacroGenics, Inc. (NASDAQ:MGNX) has been given an average recommendation of “Hold” by the seven analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $3.60.

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

Institutional Investors Weigh In On MacroGenics

A number of institutional investors have recently made changes to their positions in the stock. EcoR1 Capital LLC acquired a new position in MacroGenics during the second quarter valued at approximately $1,939,000. Acadian Asset Management LLC boosted its position in shares of MacroGenics by 7.9% during the second quarter. Acadian Asset Management LLC now owns 2,491,703 shares of the biopharmaceutical company’s stock worth $3,008,000 after purchasing an additional 183,054 shares in the last quarter. Rangeley Capital LLC acquired a new position in shares of MacroGenics in the 2nd quarter valued at $33,000. Engineers Gate Manager LP bought a new stake in shares of MacroGenics in the 2nd quarter valued at $28,000. Finally, Bridgeway Capital Management LLC raised its stake in MacroGenics by 16.1% during the 2nd quarter. Bridgeway Capital Management LLC now owns 133,700 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 18,500 shares during the period. 96.89% of the stock is owned by institutional investors and hedge funds.

MacroGenics Stock Performance

MGNX opened at $1.71 on Monday. MacroGenics has a 1-year low of $0.99 and a 1-year high of $2.95. The stock has a market capitalization of $108.17 million, a PE ratio of -1.43 and a beta of 1.50. The firm has a 50-day moving average price of $1.67 and a two-hundred day moving average price of $1.64.

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