HC Wainwright Reaffirms Neutral Rating for MacroGenics (NASDAQ:MGNX)

MacroGenics (NASDAQ:MGNX)‘s stock had its “neutral” rating reaffirmed by investment analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They presently have a $4.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 6.10% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. BTIG Research downgraded MacroGenics from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. StockNews.com lowered shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Saturday. JMP Securities reduced their price target on MacroGenics from $16.00 to $8.00 and set a “market outperform” rating on the stock in a research report on Wednesday, July 31st. Barclays reduced their target price on MacroGenics from $14.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. Finally, B. Riley downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating and cut their price target for the company from $18.00 to $5.00 in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.11.

MacroGenics Price Performance

MGNX stock opened at $3.77 on Wednesday. MacroGenics has a 52-week low of $2.95 and a 52-week high of $21.88. The stock has a market capitalization of $236.45 million, a price-to-earnings ratio of -1.71 and a beta of 2.08. The company has a 50-day moving average of $3.56 and a two-hundred day moving average of $5.12.

MacroGenics (NASDAQ:MGNX) last announced its earnings results on Tuesday, November 5th. The biopharmaceutical company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.73. The business had revenue of $110.71 million for the quarter, compared to analyst estimates of $97.04 million. MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. Equities analysts expect that MacroGenics will post -1.72 EPS for the current fiscal year.

Institutional Trading of MacroGenics

A number of institutional investors have recently modified their holdings of MGNX. Avoro Capital Advisors LLC acquired a new stake in shares of MacroGenics during the 1st quarter valued at $90,528,000. Armistice Capital LLC grew its holdings in MacroGenics by 150.0% during the second quarter. Armistice Capital LLC now owns 6,000,000 shares of the biopharmaceutical company’s stock worth $25,500,000 after buying an additional 3,600,000 shares in the last quarter. Millennium Management LLC raised its stake in shares of MacroGenics by 3,473.7% during the 2nd quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock worth $14,079,000 after purchasing an additional 3,219,977 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of MacroGenics by 8,361.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,438,050 shares of the biopharmaceutical company’s stock worth $35,889,000 after acquiring an additional 2,409,237 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in MacroGenics by 1,689.3% in the 2nd quarter. Marshall Wace LLP now owns 658,007 shares of the biopharmaceutical company’s stock worth $2,797,000 after purchasing an additional 621,232 shares in the last quarter. 96.89% of the stock is currently owned by 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.