MacroGenics, Inc. (NASDAQ:MGNX) Given Consensus Recommendation of “Hold” by Brokerages

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been assigned a consensus recommendation of “Hold” from the seven research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $5.50.

A number of research firms recently weighed in on MGNX. Barclays lifted their target price on MacroGenics from $4.00 to $6.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MacroGenics in a research report on Wednesday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Armistice Capital LLC boosted its stake in MacroGenics by 6.1% during the fourth quarter. Armistice Capital LLC now owns 6,324,000 shares of the biopharmaceutical company’s stock worth $10,182,000 after buying an additional 364,000 shares in the last quarter. BlackRock Inc. bought a new position in shares of MacroGenics during the 2nd quarter worth about $21,618,000. Vanguard Group Inc. boosted its position in shares of MacroGenics by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,224,234 shares of the biopharmaceutical company’s stock valued at $7,097,000 after acquiring an additional 11,120 shares in the last quarter. Renaissance Technologies LLC increased its stake in MacroGenics by 1.9% in the first quarter. Renaissance Technologies LLC now owns 2,963,559 shares of the biopharmaceutical company’s stock valued at $8,565,000 after acquiring an additional 54,928 shares during the period. Finally, Bank of America Corp DE lifted its stake in MacroGenics by 30.7% during the first quarter. Bank of America Corp DE now owns 2,401,814 shares of the biopharmaceutical company’s stock worth $6,941,000 after purchasing an additional 564,094 shares during the period. 96.89% of the stock is owned by institutional investors.

MacroGenics Price Performance

NASDAQ:MGNX opened at $4.04 on Monday. The firm has a market cap of $256.79 million, a price-to-earnings ratio of -3.67 and a beta of 1.20. MacroGenics has a 12 month low of $1.29 and a 12 month high of $5.08. The company’s 50 day moving average is $4.23 and its 200-day moving average is $3.31.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.01). The business had revenue of $20.77 million during the quarter, compared to the consensus estimate of $15.24 million. MacroGenics had a negative net margin of 44.79% and a negative return on equity of 147.80%. Research analysts predict that MacroGenics will post -1.76 EPS for the current fiscal year.

MacroGenics Company Profile

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.