B. Riley Issues Pessimistic Forecast for MacroGenics (NASDAQ:MGNX) Stock Price

MacroGenics (NASDAQ:MGNX) had its target price reduced by analysts at B. Riley from $5.00 to $3.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. B. Riley’s target price would suggest a potential upside of 101.34% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. StockNews.com lowered MacroGenics from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. HC Wainwright lowered their price objective on MacroGenics from $4.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Barclays reaffirmed an “overweight” rating and issued a $3.00 price objective (down from $8.00) on shares of MacroGenics in a research note on Wednesday, May 14th. Finally, Stifel Nicolaus decreased their price target on MacroGenics from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Wednesday, May 14th. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, MacroGenics presently has a consensus rating of “Hold” and a consensus price target of $6.13.

MacroGenics Price Performance

NASDAQ:MGNX opened at $1.49 on Tuesday. The firm has a market capitalization of $94.00 million, a price-to-earnings ratio of -0.94 and a beta of 2.20. MacroGenics has a 1 year low of $0.99 and a 1 year high of $5.77. The business has a 50 day simple moving average of $1.51 and a 200-day simple moving average of $2.57.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.04). The company had revenue of $13.19 million during the quarter, compared to the consensus estimate of $9.59 million. MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. As a group, analysts expect that MacroGenics will post -1.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

Institutional investors and hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC bought a new stake in shares of MacroGenics during the 4th quarter worth approximately $32,000. American Century Companies Inc. bought a new stake in shares of MacroGenics during the 4th quarter worth approximately $38,000. Jump Financial LLC bought a new stake in shares of MacroGenics during the 4th quarter worth approximately $44,000. ProShare Advisors LLC lifted its stake in shares of MacroGenics by 32.4% during the 4th quarter. ProShare Advisors LLC now owns 20,284 shares of the biopharmaceutical company’s stock worth $66,000 after acquiring an additional 4,963 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of MacroGenics during the 1st quarter worth approximately $28,000. 96.89% of the stock is owned by institutional investors.

MacroGenics Company Profile

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.