MacroGenics (NASDAQ:MGNX) Now Covered by Analysts at B. Riley

B. Riley initiated coverage on shares of MacroGenics (NASDAQ:MGNX) in a research note published on Friday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $25.00 price objective on the biopharmaceutical company’s stock.

A number of other brokerages also recently issued reports on MGNX. TD Cowen raised shares of MacroGenics from a hold rating to a buy rating in a report on Tuesday, April 9th. Barclays increased their price target on shares of MacroGenics from $12.00 to $23.00 and gave the stock an overweight rating in a report on Thursday, February 29th. TheStreet cut shares of MacroGenics from a c rating to a d rating in a research report on Thursday, March 7th. JMP Securities restated a market outperform rating on shares of MacroGenics in a research report on Thursday, April 4th. Finally, HC Wainwright cut shares of MacroGenics from a buy rating to a neutral rating and upped their price objective for the stock from $12.00 to $14.00 in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $18.00.

MacroGenics Price Performance

MGNX stock opened at $14.56 on Friday. The firm’s fifty day simple moving average is $16.73 and its 200-day simple moving average is $11.91. The company has a market capitalization of $910.87 million, a P/E ratio of -91.00 and a beta of 2.09. MacroGenics has a 12 month low of $4.29 and a 12 month high of $21.88.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.49). MacroGenics had a negative return on equity of 88.49% and a negative net margin of 15.42%. The firm had revenue of $10.72 million for the quarter, compared to analysts’ expectations of $25.70 million. During the same period last year, the company posted $0.21 earnings per share. As a group, sell-side analysts forecast that MacroGenics will post -2.7 earnings per share for the current year.

Insider Activity

In other news, SVP Ezio Bonvini sold 13,316 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $15.00, for a total value of $199,740.00. Following the completion of the sale, the senior vice president now directly owns 74,668 shares in the company, valued at $1,120,020. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Ezio Bonvini sold 13,316 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $15.00, for a total value of $199,740.00. Following the completion of the sale, the senior vice president now directly owns 74,668 shares in the company, valued at $1,120,020. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jeffrey Stuart Peters sold 51,395 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $15.55, for a total transaction of $799,192.25. The disclosure for this sale can be found here. Insiders sold 80,835 shares of company stock worth $1,276,588 over the last three months. Insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On MacroGenics

Hedge funds and other institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP increased its position in MacroGenics by 74.9% during the third quarter. GSA Capital Partners LLP now owns 225,918 shares of the biopharmaceutical company’s stock worth $1,053,000 after purchasing an additional 96,760 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in MacroGenics during the third quarter worth about $281,000. Silverarc Capital Management LLC boosted its stake in MacroGenics by 4.0% during the third quarter. Silverarc Capital Management LLC now owns 1,264,158 shares of the biopharmaceutical company’s stock worth $5,891,000 after buying an additional 48,483 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of MacroGenics by 32.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 194,204 shares of the biopharmaceutical company’s stock valued at $905,000 after purchasing an additional 48,118 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of MacroGenics in the third quarter valued at approximately $649,000. 96.89% of the stock is currently owned by institutional investors and hedge funds.

MacroGenics Company Profile

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