MacroGenics (MGNX) Rating Reiterated by HC Wainwright

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MacroGenics (NASDAQ:MGNX)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report released on Tuesday. They presently have a $34.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 106.56% from the company’s previous close.

The analysts wrote, “Our 12-month, $34 price target for shares of MacroGenics is based on a 13-year DCF-driven sum-of-the-parts analysis. Our DCF is driven by: beta of 1.68, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 11.5%, and tax rate of 15% beginning in FY 2027. (19%), flotetuzumab (17%) together represent about 99% of our target.””

MGNX has been the topic of several other reports. BidaskClub cut shares of MacroGenics from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Zacks Investment Research raised shares of MacroGenics from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Wednesday, July 18th. Finally, ValuEngine raised shares of MacroGenics from a “hold” rating to a “buy” rating in a research note on Thursday, September 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $30.38.

MacroGenics stock opened at $16.46 on Tuesday. MacroGenics has a 12-month low of $15.48 and a 12-month high of $32.74. The stock has a market cap of $731.55 million, a price-to-earnings ratio of -30.48 and a beta of 2.41.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.20) by $0.17. MacroGenics had a negative net margin of 19.20% and a negative return on equity of 13.01%. The company had revenue of $18.83 million for the quarter, compared to analysts’ expectations of $4.41 million. Sell-side analysts predict that MacroGenics will post -4.66 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of MGNX. JPMorgan Chase & Co. grew its position in MacroGenics by 23.7% in the first quarter. JPMorgan Chase & Co. now owns 32,262 shares of the biopharmaceutical company’s stock valued at $812,000 after acquiring an additional 6,178 shares in the last quarter. Russell Investments Group Ltd. grew its position in MacroGenics by 64.4% in the first quarter. Russell Investments Group Ltd. now owns 16,600 shares of the biopharmaceutical company’s stock valued at $418,000 after acquiring an additional 6,500 shares in the last quarter. Stifel Financial Corp grew its position in MacroGenics by 18.1% in the first quarter. Stifel Financial Corp now owns 19,766 shares of the biopharmaceutical company’s stock valued at $500,000 after acquiring an additional 3,033 shares in the last quarter. UBS Group AG grew its position in MacroGenics by 1,128.5% in the first quarter. UBS Group AG now owns 14,165 shares of the biopharmaceutical company’s stock valued at $357,000 after acquiring an additional 13,012 shares in the last quarter. Finally, Barclays PLC grew its position in MacroGenics by 82.3% in the first quarter. Barclays PLC now owns 15,102 shares of the biopharmaceutical company’s stock valued at $380,000 after acquiring an additional 6,820 shares in the last quarter. 91.01% of the stock is owned by institutional investors.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, focuses on the discovery and development of antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, as well as various autoimmune disorders and infectious diseases in the United States. The company's advanced clinical product candidate is Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets human epidermal growth factor receptor 2-expressing tumors, such as various breast and gastroesophageal cancers.

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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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