MacroGenics (NASDAQ:MGNX) Receives Neutral Rating from HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of MacroGenics (NASDAQ:MGNX) in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a $4.00 target price on the biopharmaceutical company’s stock.

Several other analysts have also recently commented on MGNX. Citigroup decreased their price target on shares of MacroGenics from $16.00 to $14.00 and set a buy rating on the stock in a research note on Thursday, August 15th. Evercore ISI raised MacroGenics to a strong-buy rating in a research note on Monday, September 16th. StockNews.com downgraded MacroGenics from a hold rating to a sell rating in a research report on Thursday, August 8th. BTIG Research lowered shares of MacroGenics from a buy rating to a neutral rating in a report on Thursday, August 1st. Finally, Barclays decreased their price target on shares of MacroGenics from $14.00 to $9.00 and set an overweight rating on the stock in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $8.11.

MacroGenics Trading Down 3.2 %

Shares of MGNX opened at $3.28 on Wednesday. The business’s 50 day moving average is $3.93 and its 200 day moving average is $8.27. MacroGenics has a 12-month low of $3.14 and a 12-month high of $21.88. The company has a market capitalization of $205.44 million, a PE ratio of -8.41 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.42). MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. The company had revenue of $10.80 million for the quarter, compared to the consensus estimate of $24.14 million. Equities research analysts predict that MacroGenics will post -1.72 earnings per share for the current year.

Institutional Investors Weigh In On MacroGenics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC grew its holdings in MacroGenics by 8.9% during the 1st quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock valued at $225,000 after purchasing an additional 1,246 shares during the last quarter. Diversified Trust Co boosted its position in shares of MacroGenics by 16.0% during the first quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock valued at $201,000 after buying an additional 1,880 shares during the period. EntryPoint Capital LLC bought a new position in shares of MacroGenics during the first quarter valued at approximately $40,000. CANADA LIFE ASSURANCE Co purchased a new stake in shares of MacroGenics in the first quarter worth approximately $52,000. Finally, Principal Financial Group Inc. raised its holdings in shares of MacroGenics by 1.1% in the second quarter. Principal Financial Group Inc. now owns 348,421 shares of the biopharmaceutical company’s stock worth $1,481,000 after buying an additional 3,818 shares during the period. Hedge funds and other institutional investors 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.