MacroGenics Inc (NASDAQ:MGNX) has been given a consensus rating of “Buy” by the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $29.77.
MGNX has been the subject of several analyst reports. Morgan Stanley lifted their price target on shares of MacroGenics from $11.00 to $12.00 and gave the stock an “underweight” rating in a research report on Friday. BidaskClub cut shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Friday, July 17th. Nomura reiterated a “buy” rating and set a $50.00 price target on shares of MacroGenics in a research report on Sunday, May 17th. Wedbush boosted their price objective on shares of MacroGenics from $16.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Finally, Stifel Nicolaus boosted their price objective on shares of MacroGenics from $21.00 to $36.00 and gave the company a “buy” rating in a report on Friday, May 29th. They noted that the move was a valuation call.
Shares of NASDAQ:MGNX opened at $25.40 on Tuesday. MacroGenics has a one year low of $4.04 and a one year high of $32.18. The company has a 50 day moving average of $27.23 and a 200-day moving average of $15.58. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.93 and a quick ratio of 4.93. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -7.51 and a beta of 2.84.
MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.02). MacroGenics had a negative return on equity of 73.93% and a negative net margin of 214.06%. The business had revenue of $20.26 million for the quarter, compared to analyst estimates of $14.19 million. Equities research analysts anticipate that MacroGenics will post -3.07 earnings per share for the current year.
In other MacroGenics news, SVP Eric Blasius Risser sold 8,032 shares of MacroGenics stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $20.95, for a total value of $168,270.40. Following the transaction, the senior vice president now owns 44,968 shares of the company’s stock, valued at $942,079.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Thomas Spitznagel sold 7,500 shares of MacroGenics stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $25.30, for a total transaction of $189,750.00. Following the completion of the transaction, the senior vice president now directly owns 7,500 shares in the company, valued at approximately $189,750. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,621 shares of company stock worth $579,600. Insiders own 9.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new stake in shares of MacroGenics in the second quarter worth $261,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of MacroGenics by 155.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,382 shares of the biopharmaceutical company’s stock worth $178,000 after purchasing an additional 3,888 shares in the last quarter. Vident Investment Advisory LLC bought a new stake in shares of MacroGenics in the second quarter worth $1,873,000. Strs Ohio bought a new stake in shares of MacroGenics in the second quarter worth $139,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of MacroGenics in the second quarter worth $4,916,000. 91.25% of the stock is currently owned by institutional investors and hedge funds.
MacroGenics Company Profile
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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