Citigroup Inc. Boosts MacroGenics, Inc. (MGNX) Price Target to $22.00
MacroGenics, Inc. (NASDAQ:MGNX) had its target price hoisted by Citigroup Inc. from $18.00 to $22.00 in a report issued on Friday morning. Citigroup Inc. currently has a neutral rating on the biopharmaceutical company’s stock.
Several other equities research analysts have also issued reports on the company. Zacks Investment Research raised MacroGenics from a sell rating to a hold rating and set a $19.00 price objective for the company in a research note on Tuesday, July 18th. Stifel Nicolaus reissued a buy rating and set a $34.00 price objective on shares of MacroGenics in a research note on Tuesday, September 12th. SunTrust Banks, Inc. reissued a buy rating and set a $26.00 price objective on shares of MacroGenics in a research note on Friday, September 1st. Cowen and Company reissued a buy rating on shares of MacroGenics in a research note on Wednesday, October 25th. Finally, ValuEngine raised MacroGenics from a strong sell rating to a sell rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. MacroGenics presently has an average rating of Buy and an average price target of $30.10.
MacroGenics (NASDAQ:MGNX) traded down $0.83 during trading on Friday, hitting $17.85. The stock had a trading volume of 233,000 shares, compared to its average volume of 261,523. MacroGenics has a 52-week low of $14.36 and a 52-week high of $31.85.
MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.09) by ($0.19). The company had revenue of $1.70 million during the quarter, compared to the consensus estimate of $5.50 million. MacroGenics had a negative return on equity of 89.68% and a negative net margin of 2,828.80%. MacroGenics’s revenue was down 48.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.97) earnings per share. research analysts anticipate that MacroGenics will post -2.34 EPS for the current fiscal year.
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In other MacroGenics news, SVP Jon Marc Wigginton sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the sale, the senior vice president now owns 40,000 shares in the company, valued at $800,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC raised its position in MacroGenics by 0.6% during the second quarter. Jennison Associates LLC now owns 189,970 shares of the biopharmaceutical company’s stock valued at $3,326,000 after purchasing an additional 1,062 shares in the last quarter. American International Group Inc. increased its holdings in shares of MacroGenics by 7.1% in the first quarter. American International Group Inc. now owns 19,632 shares of the biopharmaceutical company’s stock worth $365,000 after buying an additional 1,300 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of MacroGenics by 21.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 148,792 shares of the biopharmaceutical company’s stock worth $2,606,000 after buying an additional 25,823 shares during the period. Vanguard Group Inc. increased its holdings in shares of MacroGenics by 3.4% in the first quarter. Vanguard Group Inc. now owns 1,352,864 shares of the biopharmaceutical company’s stock worth $25,163,000 after buying an additional 44,680 shares during the period. Finally, FMR LLC increased its holdings in shares of MacroGenics by 6.0% in the second quarter. FMR LLC now owns 5,238,917 shares of the biopharmaceutical company’s stock worth $91,733,000 after buying an additional 295,553 shares during the period. Institutional investors and hedge funds own 84.72% of the company’s stock.
MacroGenics Company Profile
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.
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