MacroGenics, Inc. (NASDAQ:MGNX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have earned an average rating of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $18.00.

Several equities research analysts have commented on MGNX shares. B. Riley started coverage on shares of MacroGenics in a report on Friday, April 26th. They issued a “buy” rating and a $25.00 price target on the stock. TD Cowen upgraded shares of MacroGenics from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. BTIG Research upped their price objective on shares of MacroGenics from $12.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Barclays upped their price objective on shares of MacroGenics from $12.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, TheStreet downgraded shares of MacroGenics from a “c” rating to a “d” rating in a research report on Thursday, March 7th.

MacroGenics Stock Performance

NASDAQ:MGNX opened at $15.67 on Friday. MacroGenics has a one year low of $4.29 and a one year high of $21.88. The firm has a market cap of $980.32 million, a price-to-earnings ratio of -97.94 and a beta of 2.09. The firm’s fifty day moving average is $16.51 and its two-hundred day moving average is $12.26.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.49). MacroGenics had a negative net margin of 15.42% and a negative return on equity of 88.49%. The business had revenue of $10.72 million during the quarter, compared to analysts’ expectations of $25.70 million. During the same period in the previous year, the company posted $0.21 earnings per share. As a group, equities research analysts predict that MacroGenics will post -2.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Jeffrey Stuart Peters sold 51,395 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $15.55, for a total transaction of $799,192.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.30% of the company’s stock.

Institutional Trading of MacroGenics

Hedge funds have recently bought and sold shares of the business. Sound Income Strategies LLC acquired a new stake in MacroGenics in the 1st quarter valued at about $77,000. AJOVista LLC acquired a new stake in MacroGenics in the 4th quarter valued at about $51,000. China Universal Asset Management Co. Ltd. raised its holdings in MacroGenics by 349.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company’s stock valued at $69,000 after acquiring an additional 5,577 shares during the last quarter. Diversified Trust Co raised its holdings in MacroGenics by 16.0% in the 1st quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock valued at $201,000 after acquiring an additional 1,880 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in MacroGenics in the 4th quarter valued at about $135,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.