Shares of MacroGenics Inc (NASDAQ:MGNX) have received an average recommendation of “Buy” from the fourteen analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $31.43.

Several brokerages recently issued reports on MGNX. BidaskClub raised MacroGenics from a “strong sell” rating to a “sell” rating in a research note on Friday. Zacks Investment Research downgraded MacroGenics from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine raised MacroGenics from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Finally, HC Wainwright reissued a “buy” rating and issued a $34.00 price objective on shares of MacroGenics in a research note on Wednesday, August 8th.

A number of hedge funds have recently modified their holdings of MGNX. JPMorgan Chase & Co. increased its position in MacroGenics by 23.7% in the 1st quarter. JPMorgan Chase & Co. now owns 32,262 shares of the biopharmaceutical company’s stock worth $812,000 after purchasing an additional 6,178 shares during the last quarter. Citigroup Inc. increased its position in MacroGenics by 61.4% in the 1st quarter. Citigroup Inc. now owns 13,564 shares of the biopharmaceutical company’s stock worth $341,000 after purchasing an additional 5,162 shares during the last quarter. Russell Investments Group Ltd. increased its position in MacroGenics by 64.4% in the 1st quarter. Russell Investments Group Ltd. now owns 16,600 shares of the biopharmaceutical company’s stock worth $418,000 after purchasing an additional 6,500 shares during the last quarter. Stifel Financial Corp increased its position in MacroGenics by 18.1% in the 1st quarter. Stifel Financial Corp now owns 19,766 shares of the biopharmaceutical company’s stock worth $500,000 after purchasing an additional 3,033 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in MacroGenics in the 1st quarter worth about $481,000. 90.99% of the stock is currently owned by institutional investors.

Shares of NASDAQ MGNX opened at $18.74 on Wednesday. MacroGenics has a 12 month low of $16.12 and a 12 month high of $32.74. The firm has a market cap of $813.07 million, a PE ratio of -34.70 and a beta of 2.41.

MacroGenics (NASDAQ:MGNX) last announced its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.20) by $0.17. MacroGenics had a negative return on equity of 13.01% and a negative net margin of 19.20%. The business had revenue of $18.83 million during the quarter, compared to the consensus estimate of $4.41 million. As a group, sell-side analysts anticipate that MacroGenics will post -4.66 EPS for the current year.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, focuses on the discovery and development of antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, as well as various 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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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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