MacroGenics, Inc. (NASDAQ:MGNX) Receives Average “Buy” Rating from Analysts

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MacroGenics, Inc. (NASDAQ:MGNX – Get Rating) stock received an average recommendation of “Buy” from the thirteen research firms that cover the stock, Marketbeat.com reports. Two equity research analysts rated the stock with a sell recommendation, one issued a hold recommendation and nine gave the company a buy recommendation. The 1-year average price target among brokers who have rated the stock in the past year is $29.30.

Several equity research analysts weighed in on the stock. SVB Leerink cut its price target on MacroGenics shares from $40.00 to $23.00 and set an “outperform” rating on the stock in a Friday, Feb. 25 report. BMO Capital Markets assumed coverage of MacroGenics shares in a Friday, Feb. 11 report. They issued an “outperform” rating and a target price of $31.00 on the stock. Barclays cut its target price on MacroGenics shares from $35.00 to $18.00 in a Friday, February 25 report. Citigroup upgraded shares of MacroGenics from a “neutral” rating to a “buy” rating and reduced its target price for the stock from $23.00 to $21.00 in a Monday, February 28 report. Finally, StockNews.com assumed coverage of MacroGenics shares in a report on Thursday, March 31. They issued a “sell” rating on the stock.

Shares of NASDAQ MGNX opened at $8.61 on Friday. The company’s 50-day simple moving average is $9.45 and its 200-day simple moving average is $14.68. MacroGenics has a fifty-two week low of $7.91 and a fifty-two week high of $36.48. The company has a market capitalization of $528.01 million, a P/E ratio of -2.55 and a beta of 2.14.

MacroGenics (NASDAQ:MGNX – Get Rating) last reported quarterly earnings data on Thursday, February 24. The biopharmaceutical company reported ($0.95) earnings per share for the quarter, missing Thomson Reuters’ consensus estimate of ($0.83) by ($0.12). The company posted revenue of $14.15 million in the quarter, compared to analyst estimates of $19.83 million. MacroGenics had a negative net margin of 260.97% and a negative return on equity of 67.34%. In the same quarter of the previous year, the company had earned earnings per share of $0.02. Equity research analysts expect MacroGenics to post earnings per share of -2.55 for the current fiscal year.

Institutional investors have recently increased or reduced their stake in the stock. HighVista Strategies LLC increased its position in MacroGenics by 115.2% in the third quarter. HighVista Strategies LLC now owns 54,012 shares of the biopharmaceutical company valued at $1,131,000 after purchasing an additional 28,908 shares last quarter. Strs Ohio increased its position in MacroGenics by 127.8% in the fourth quarter. Strs Ohio now owns 36,000 shares of the biopharmaceutical company valued at $577,000 after buying an additional 20,200 shares last quarter. The Swiss National Bank increased its position in MacroGenics by 7.0% in the third quarter. The Swiss National Bank now owns 106,100 shares of the biopharmaceutical company valued at $2,222,000 after buying an additional 6,900 shares last quarter. Cubist Systematic Strategies LLC increased its position in MacroGenics by 269.6% in the third quarter. Cubist Systematic Strategies LLC now owns 48,080 shares of the biopharmaceutical company valued at $1,007,000 after buying 35,073 additional shares last quarter. Finally, Voloridge Investment Management LLC bought a new position in MacroGenics in the third quarter worth $1,027,000. 96.16% of the shares are held by institutional investors and hedge funds.

About MacroGenics (Get an assessment)

MacroGenics, Inc, a biopharmaceutical company, develops and commercializes antibody-based therapies to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with HER2-positive metastatic breast cancer who have received at least two prior anti-HER2 regimens.

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