ValuEngine upgraded shares of MacroGenics (NASDAQ:MGNX) from a hold rating to a buy rating in a research note published on Thursday.
Several other analysts have also recently issued reports on the company. BTIG Research started coverage on MacroGenics in a research note on Monday. They set a buy rating and a $30.00 price objective on the stock. BidaskClub upgraded MacroGenics from a sell rating to a hold rating in a research report on Saturday, August 11th. Zacks Investment Research cut MacroGenics from a buy rating to a hold rating in a research report on Saturday, August 11th. Cowen reiterated a buy rating on shares of MacroGenics in a research report on Wednesday, August 8th. Finally, HC Wainwright reiterated a buy rating and set a $34.00 price target on shares of MacroGenics in a research report on Wednesday, August 8th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $30.50.
Shares of NASDAQ MGNX opened at $23.10 on Thursday. MacroGenics has a 52-week low of $16.12 and a 52-week high of $32.74. The company has a market cap of $915.71 million, a price-to-earnings ratio of -42.78 and a beta of 2.41.
Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of MacroGenics during the 1st quarter worth approximately $119,000. Sun Life Financial INC acquired a new stake in shares of MacroGenics during the 2nd quarter worth approximately $168,000. Algert Global LLC acquired a new stake in shares of MacroGenics during the 2nd quarter worth approximately $203,000. Alambic Investment Management L.P. bought a new position in MacroGenics in the 1st quarter worth approximately $215,000. Finally, Metropolitan Life Insurance Co. NY grew its holdings in MacroGenics by 33.7% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 13,178 shares of the biopharmaceutical company’s stock worth $272,000 after buying an additional 3,323 shares in the last quarter. Institutional investors and hedge funds own 92.84% of the company’s stock.
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.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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