Brokerages Set MacroGenics Inc (NASDAQ:MGNX) Price Target at $30.89

MacroGenics Inc (NASDAQ:MGNX) has been assigned an average recommendation of “Buy” from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $30.89.

Several research analysts have recently issued reports on MGNX shares. Wedbush restated an “outperform” rating and issued a $27.00 price objective on shares of MacroGenics in a research note on Thursday, July 18th. Cowen reaffirmed a “buy” rating on shares of MacroGenics in a report on Wednesday, June 5th. HC Wainwright reaffirmed a “buy” rating and set a $39.00 target price on shares of MacroGenics in a report on Thursday, May 2nd. BidaskClub lowered MacroGenics from a “sell” rating to a “strong sell” rating in a report on Friday, July 19th. Finally, Stifel Nicolaus dropped their target price on MacroGenics from $29.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, August 1st.

In related news, SVP Eric Blasius Risser sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $18.38, for a total transaction of $55,140.00. Following the sale, the senior vice president now directly owns 33,806 shares of the company’s stock, valued at $621,354.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 7.88% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of MGNX. Invesco Ltd. grew its holdings in MacroGenics by 24,014.8% during the second quarter. Invesco Ltd. now owns 4,486,077 shares of the biopharmaceutical company’s stock worth $76,128,000 after acquiring an additional 4,467,474 shares during the period. Federated Investors Inc. PA grew its holdings in MacroGenics by 206,408.1% in the first quarter. Federated Investors Inc. PA now owns 1,100,688 shares of the biopharmaceutical company’s stock valued at $19,790,000 after purchasing an additional 1,100,155 shares during the period. BlackRock Inc. grew its holdings in MacroGenics by 29.2% in the second quarter. BlackRock Inc. now owns 4,399,564 shares of the biopharmaceutical company’s stock valued at $74,662,000 after purchasing an additional 994,872 shares during the period. Nuveen Asset Management LLC acquired a new stake in MacroGenics in the second quarter valued at approximately $13,561,000. Finally, Panagora Asset Management Inc. acquired a new stake in MacroGenics in the second quarter valued at approximately $5,101,000. 89.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:MGNX traded up $0.59 during trading on Tuesday, hitting $15.07. The stock had a trading volume of 306,100 shares, compared to its average volume of 449,092. MacroGenics has a 12-month low of $9.87 and a 12-month high of $32.32. The stock has a market capitalization of $707.98 million, a price-to-earnings ratio of -3.60 and a beta of 2.36. The company has a quick ratio of 5.81, a current ratio of 5.81 and a debt-to-equity ratio of 0.08. The stock has a 50-day simple moving average of $15.11 and a two-hundred day simple moving average of $17.36.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.96) by $0.31. MacroGenics had a negative return on equity of 54.52% and a negative net margin of 273.47%. The firm had revenue of $10.59 million during the quarter, compared to analysts’ expectations of $17.58 million. As a group, sell-side analysts forecast that MacroGenics will post -3.27 earnings per share for the current year.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.

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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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