MacroGenics, Inc. (NASDAQ:MGNX) Receives $33.30 Average Price Target from Analysts


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Shares of MacroGenics, Inc. (NASDAQ:MGNX) have received a consensus rating of “Buy” from the twelve brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $33.30.

A number of equities analysts have recently commented on the stock. Morgan Stanley increased their price objective on shares of MacroGenics from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Thursday, March 4th. Barclays upgraded shares of MacroGenics from an “underweight” rating to an “overweight” rating and raised their target price for the company from $14.00 to $40.00 in a research note on Thursday, March 18th. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of MacroGenics in a research note on Tuesday, December 22nd. Finally, Zacks Investment Research downgraded shares of MacroGenics from a “buy” rating to a “hold” rating in a research note on Thursday, February 25th.

In other MacroGenics news, CFO James Karrels sold 15,000 shares of the stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $33.00, for a total value of $495,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Jeffrey Stuart Peters sold 21,749 shares of the stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $26.50, for a total transaction of $576,348.50. Following the completion of the transaction, the general counsel now directly owns 21,749 shares in the company, valued at $576,348.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,666 shares of company stock worth $1,196,693. Insiders own 9.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in MGNX. Marshall Wace LLP bought a new position in shares of MacroGenics during the first quarter worth approximately $80,000. Marshall Wace North America L.P. bought a new position in shares of MacroGenics during the first quarter worth approximately $59,000. Wells Fargo & Company MN increased its holdings in shares of MacroGenics by 7.6% during the third quarter. Wells Fargo & Company MN now owns 55,798 shares of the biopharmaceutical company’s stock worth $1,407,000 after purchasing an additional 3,949 shares during the period. Aperio Group LLC increased its holdings in shares of MacroGenics by 15.5% during the third quarter. Aperio Group LLC now owns 15,975 shares of the biopharmaceutical company’s stock worth $402,000 after purchasing an additional 2,139 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of MacroGenics by 5.1% during the third quarter. The Manufacturers Life Insurance Company now owns 30,058 shares of the biopharmaceutical company’s stock worth $757,000 after purchasing an additional 1,454 shares during the period. 95.80% of the stock is currently owned by institutional investors.

Shares of MacroGenics stock traded down $0.60 during trading hours on Monday, reaching $30.93. 2,329 shares of the company’s stock were exchanged, compared to its average volume of 796,946. The company has a 50 day moving average of $27.55 and a two-hundred day moving average of $23.95. MacroGenics has a fifty-two week low of $5.00 and a fifty-two week high of $33.61. The stock has a market cap of $1.74 billion, a P/E ratio of -10.07 and a beta of 2.40.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Thursday, February 25th. The biopharmaceutical company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.60. MacroGenics had a negative net margin of 204.31% and a negative return on equity of 65.84%. The company had revenue of $52.69 million during the quarter, compared to the consensus estimate of $31.54 million. Equities analysts predict that MacroGenics will post -3.07 earnings per share for the current year.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. The company's 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.

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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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