HC Wainwright Reiterates $34.00 Price Target for MacroGenics (MGNX)

HC Wainwright set a $34.00 price objective on MacroGenics (NASDAQ:MGNX) in a research note published on Wednesday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

MGNX has been the subject of a number of other reports. ValuEngine raised shares of MacroGenics from a hold rating to a buy rating in a research note on Thursday, September 13th. BidaskClub cut shares of MacroGenics from a sell rating to a strong sell rating in a research note on Friday, October 12th. Cowen reissued a buy rating on shares of MacroGenics in a research note on Wednesday, August 8th. Zacks Investment Research cut shares of MacroGenics from a buy rating to a hold rating in a research note on Saturday, August 11th. Finally, BTIG Research initiated coverage on shares of MacroGenics in a research note on Monday, September 10th. They set a buy rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. MacroGenics currently has a consensus rating of Buy and an average price target of $31.00.

Shares of MGNX opened at $16.41 on Wednesday. MacroGenics has a 1-year low of $15.45 and a 1-year high of $32.74.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.29) by $0.48. MacroGenics had a negative net margin of 10.72% and a negative return on equity of 7.39%. The business had revenue of $20.80 million during the quarter, compared to analysts’ expectations of $6.18 million. On average, equities research analysts forecast that MacroGenics will post -4.22 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BB Biotech AG boosted its position in MacroGenics by 2.3% during the second quarter. BB Biotech AG now owns 2,660,412 shares of the biopharmaceutical company’s stock worth $54,938,000 after acquiring an additional 60,000 shares during the last quarter. BlackRock Inc. boosted its position in MacroGenics by 17.5% during the second quarter. BlackRock Inc. now owns 3,122,067 shares of the biopharmaceutical company’s stock worth $64,472,000 after acquiring an additional 465,948 shares during the last quarter. Stanley Laman Group Ltd. acquired a new stake in MacroGenics during the second quarter worth approximately $462,000. State of Wisconsin Investment Board boosted its position in MacroGenics by 59.6% during the second quarter. State of Wisconsin Investment Board now owns 39,900 shares of the biopharmaceutical company’s stock worth $824,000 after acquiring an additional 14,900 shares during the last quarter. Finally, Bellevue Group AG boosted its position in MacroGenics by 6.0% during the second quarter. Bellevue Group AG now owns 596,913 shares of the biopharmaceutical company’s stock worth $12,326,000 after acquiring an additional 33,762 shares during the last quarter. Hedge funds and other institutional investors own 86.97% of the company’s stock.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, and 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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