MacroGenics (NASDAQ:MGNX) Now Covered by Analysts at B. Riley

B. Riley initiated coverage on shares of MacroGenics (NASDAQ:MGNX) in a research note released on Friday, MarketBeat.com reports. The brokerage issued a buy rating and a $25.00 price target on the biopharmaceutical company’s stock.

A number of other equities research analysts have also weighed in on MGNX. JMP Securities reiterated a market outperform rating on shares of MacroGenics in a research note on Thursday, April 4th. TD Cowen raised MacroGenics from a hold rating to a buy rating in a report on Tuesday, April 9th. Barclays raised their target price on MacroGenics from $12.00 to $23.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. HC Wainwright lowered shares of MacroGenics from a buy rating to a neutral rating and upped their price target for the company from $12.00 to $14.00 in a research report on Wednesday, February 14th. Finally, BTIG Research raised their price objective on shares of MacroGenics from $12.00 to $24.00 and gave the stock a buy rating in a report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, MacroGenics currently has an average rating of Moderate Buy and an average target price of $18.00.

MacroGenics Stock Up 1.8 %

MGNX stock opened at $14.82 on Friday. The business has a 50 day moving average of $16.63 and a 200 day moving average of $12.14. The firm has a market cap of $927.14 million, a PE ratio of -92.63 and a beta of 2.10. MacroGenics has a twelve month low of $4.29 and a twelve month high of $21.88.

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

Insider Buying and Selling

In other news, SVP Ezio Bonvini sold 13,316 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $15.00, for a total transaction of $199,740.00. Following the completion of the sale, the senior vice president now directly owns 74,668 shares of the company’s stock, valued at $1,120,020. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MacroGenics news, VP Jeffrey Stuart Peters sold 51,395 shares of the firm’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 SEC, which is available at the SEC website. Also, SVP Ezio Bonvini sold 13,316 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $15.00, for a total transaction of $199,740.00. Following the completion of the transaction, the senior vice president now directly owns 74,668 shares of the company’s stock, valued at approximately $1,120,020. The disclosure for this sale can be found here. In the last three months, insiders sold 80,835 shares of company stock valued at $1,276,588. Insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On MacroGenics

Several institutional investors and hedge funds have recently bought and sold shares of MGNX. Principal Financial Group Inc. boosted its holdings in MacroGenics by 28.6% in the first quarter. Principal Financial Group Inc. now owns 344,603 shares of the biopharmaceutical company’s stock worth $5,073,000 after acquiring an additional 76,727 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in MacroGenics by 66.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,935 shares of the biopharmaceutical company’s stock worth $176,000 after purchasing an additional 4,761 shares during the last quarter. Diversified Trust Co increased its stake in MacroGenics by 16.0% during the 1st quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock valued at $201,000 after purchasing an additional 1,880 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of MacroGenics in the first quarter worth $77,000. Finally, Perceptive Advisors LLC acquired a new stake in shares of MacroGenics during the fourth quarter worth $5,887,000. 96.89% of the stock is owned by hedge funds and other 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.