Brokerages Set MacroGenics Inc (NASDAQ:MGNX) PT at $29.92

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MacroGenics Inc (NASDAQ:MGNX) has received a consensus rating of “Buy” from the seventeen brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $30.83.

A number of analysts have weighed in on the company. BidaskClub raised MacroGenics from a “hold” rating to a “buy” rating in a research report on Saturday. Morgan Stanley boosted their price target on MacroGenics from $11.00 to $12.00 and gave the stock an “underweight” rating in a research report on Friday, July 31st. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of MacroGenics in a research report on Friday, July 31st. Stifel Nicolaus boosted their price target on MacroGenics from $21.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. They noted that the move was a valuation call. Finally, BTIG Research boosted their price target on MacroGenics from $23.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th.

In other MacroGenics news, SVP Ezio Bonvini sold 62,851 shares of the company’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $30.50, for a total value of $1,916,955.50. Following the completion of the transaction, the senior vice president now owns 102,146 shares of the company’s stock, valued at approximately $3,115,453. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Eric Blasius Risser sold 4,489 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $25.47, for a total value of $114,334.83. Following the completion of the transaction, the senior vice president now directly owns 44,957 shares of the company’s stock, valued at approximately $1,145,054.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,713 shares of company stock valued at $2,888,971. Insiders own 9.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Marshall Wace North America L.P. acquired a new position in MacroGenics in the 1st quarter valued at approximately $59,000. Bank of Montreal Can bought a new stake in shares of MacroGenics in the 2nd quarter valued at approximately $118,000. Marshall Wace LLP bought a new stake in shares of MacroGenics in the 1st quarter valued at approximately $80,000. Strs Ohio bought a new stake in shares of MacroGenics in the 2nd quarter valued at approximately $139,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of MacroGenics by 155.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,382 shares of the biopharmaceutical company’s stock valued at $178,000 after purchasing an additional 3,888 shares during the period. 95.03% of the stock is owned by hedge funds and other institutional investors.

NASDAQ MGNX traded down $1.07 on Wednesday, reaching $24.72. The stock had a trading volume of 686,857 shares, compared to its average volume of 1,472,857. The business has a 50 day moving average price of $27.33 and a 200 day moving average price of $20.02. MacroGenics has a 1 year low of $4.04 and a 1 year high of $32.18. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -7.31 and a beta of 2.63.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.02). MacroGenics had a negative net margin of 214.06% and a negative return on equity of 72.15%. The firm had revenue of $20.26 million during the quarter, compared to analysts’ expectations of $14.19 million. On average, research analysts forecast that MacroGenics will post -3.47 EPS for the current year.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.

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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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