MacroGenics (MGNX) Price Target Increased to $40.00 by Analysts at SunTrust Banks

MacroGenics (NASDAQ:MGNX) had its price target raised by SunTrust Banks to $40.00 in a research note released on Thursday, The Fly reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also weighed in on MGNX. Raymond James lowered shares of MacroGenics from an outperform rating to an underperform rating in a report on Monday, December 10th. Wedbush reissued a positive rating and set a $20.00 target price (down from $44.00) on shares of MacroGenics in a report on Tuesday, January 22nd. They noted that the move was a valuation call. ValuEngine raised shares of MacroGenics from a buy rating to a strong-buy rating in a report on Thursday. Zacks Investment Research raised shares of MacroGenics from a hold rating to a buy rating and set a $19.00 target price on the stock in a report on Tuesday, November 13th. Finally, BidaskClub lowered shares of MacroGenics from a sell rating to a strong sell rating in a report on Friday, October 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $31.78.

Shares of MacroGenics stock opened at $22.44 on Thursday. The company has a market cap of $948.29 million, a P/E ratio of -41.56 and a beta of 2.65. MacroGenics has a 1 year low of $9.87 and a 1 year high of $32.74.

In other MacroGenics news, SVP Thomas Spitznagel sold 1,770 shares of the company’s stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $30.00, for a total transaction of $53,100.00. Following the transaction, the senior vice president now owns 1,770 shares in the company, valued at $53,100. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Matthew K. Fust sold 6,924 shares of the company’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $29.38, for a total transaction of $203,427.12. Following the transaction, the director now owns 7,424 shares in the company, valued at approximately $218,117.12. The disclosure for this sale can be found here. Insiders sold a total of 8,762 shares of company stock worth $258,567 in the last 90 days. Corporate insiders own 8.82% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new position in MacroGenics during the fourth quarter worth $65,000. Meeder Asset Management Inc. raised its holdings in MacroGenics by 4,851.9% during the fourth quarter. Meeder Asset Management Inc. now owns 12,033 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 11,790 shares during the last quarter. Sun Life Financial INC raised its holdings in MacroGenics by 58.0% during the fourth quarter. Sun Life Financial INC now owns 12,947 shares of the biopharmaceutical company’s stock worth $164,000 after buying an additional 4,751 shares during the last quarter. Verition Fund Management LLC acquired a new position in MacroGenics during the third quarter worth $202,000. Finally, Keybank National Association OH acquired a new position in MacroGenics during the third quarter worth $203,000. Hedge funds and other institutional investors own 87.47% of the company’s stock.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, and autoimmune disorders and infectious diseases in the United States. The company's advanced clinical product candidate is Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets human epidermal growth factor receptor 2-expressing tumors, such as various breast and gastroesophageal cancers.

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