MacroGenics Inc (MGNX) Receives Average Rating of “Buy” from Analysts

MacroGenics Inc (NASDAQ:MGNX) has been given an average recommendation of “Buy” by the thirteen ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $31.86.

A number of equities research analysts have recently issued reports on the company. BidaskClub upgraded MacroGenics from a “hold” rating to a “buy” rating in a report on Thursday, March 8th. Morgan Stanley restated an “equal weight” rating and set a $26.00 price objective (up previously from $18.00) on shares of MacroGenics in a report on Wednesday, March 14th. HC Wainwright assumed coverage on MacroGenics in a report on Monday, March 5th. They set a “buy” rating and a $38.00 price objective for the company. ValuEngine upgraded MacroGenics from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. Finally, TheStreet upgraded MacroGenics from a “d” rating to a “c+” rating in a report on Tuesday.

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MacroGenics stock traded up $1.65 during midday trading on Friday, reaching $25.16. 1,250,069 shares of the company’s stock were exchanged, compared to its average volume of 607,572. MacroGenics has a 52 week low of $14.36 and a 52 week high of $32.74.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.22. MacroGenics had a negative return on equity of 8.22% and a negative net margin of 12.44%. The business had revenue of $152.36 million during the quarter, compared to analysts’ expectations of $152.59 million. sell-side analysts predict that MacroGenics will post -4.48 EPS for the current year.

In related news, VP Lynn Cilinski sold 23,967 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $25.01, for a total value of $599,414.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric Blasius Risser sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $25.01, for a total value of $25,010.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,967 shares of company stock valued at $1,098,005. Corporate insiders own 8.30% of the company’s stock.

Several hedge funds have recently modified their holdings of MGNX. Prosight Management LP bought a new stake in shares of MacroGenics in the fourth quarter valued at approximately $11,546,000. Millennium Management LLC boosted its stake in shares of MacroGenics by 619.4% in the fourth quarter. Millennium Management LLC now owns 482,301 shares of the biopharmaceutical company’s stock valued at $9,164,000 after buying an additional 415,262 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of MacroGenics by 10.8% in the fourth quarter. OppenheimerFunds Inc. now owns 3,933,906 shares of the biopharmaceutical company’s stock valued at $74,744,000 after buying an additional 384,861 shares during the period. Pinnacle Associates Ltd. boosted its stake in shares of MacroGenics by 38.3% in the third quarter. Pinnacle Associates Ltd. now owns 843,175 shares of the biopharmaceutical company’s stock valued at $15,582,000 after buying an additional 233,657 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of MacroGenics by 55.2% in the fourth quarter. Renaissance Technologies LLC now owns 300,523 shares of the biopharmaceutical company’s stock valued at $5,710,000 after buying an additional 106,900 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.

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MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, focuses on the discovery and development of antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, as well as various 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.

Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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