Analysts Set MacroGenics, Inc. (NASDAQ:MGNX) Target Price at $3.60

MacroGenics, Inc. (NASDAQ:MGNX) has been assigned a consensus rating of “Hold” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $3.60.

MGNX has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of MacroGenics in a research note on Monday, December 22nd. HC Wainwright reissued a “neutral” rating and set a $2.00 price target on shares of MacroGenics in a report on Monday, November 3rd. Finally, Zacks Research cut shares of MacroGenics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st.

MacroGenics Trading Up 1.2%

Shares of MGNX opened at $1.72 on Thursday. The company’s 50-day moving average price is $1.55 and its 200 day moving average price is $1.61. MacroGenics has a 12-month low of $0.99 and a 12-month high of $3.37. The firm has a market cap of $108.81 million, a P/E ratio of -1.43 and a beta of 1.51.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported $0.27 EPS for the quarter, beating the consensus estimate 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. Equities research analysts forecast that MacroGenics will post -1.06 earnings per share for the current year.

Hedge Funds Weigh In On MacroGenics

Several large investors have recently added to or reduced their stakes in the business. Invesco Ltd. raised its holdings in shares of MacroGenics by 90.0% in the 1st quarter. Invesco Ltd. now owns 68,377 shares of the biopharmaceutical company’s stock worth $87,000 after purchasing an additional 32,398 shares during the period. Amundi bought a new position in MacroGenics during the first quarter worth $272,000. Jones Financial Companies Lllp increased its position in MacroGenics by 456,243.3% in the first quarter. Jones Financial Companies Lllp now owns 136,903 shares of the biopharmaceutical company’s stock worth $174,000 after buying an additional 136,873 shares during the period. Strs Ohio bought a new position in MacroGenics in the 1st quarter worth about $263,000. Finally, Voya Investment Management LLC increased its position in MacroGenics by 70.5% in the 1st quarter. Voya Investment Management LLC now owns 97,922 shares of the biopharmaceutical company’s stock valued at $124,000 after acquiring an additional 40,500 shares during the period. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

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.