Wedbush reiterated their outperform rating on shares of MacroGenics (NASDAQ:MGNX) in a research note issued to investors on Thursday morning, RTT News reports. They currently have a $27.00 price objective on the biopharmaceutical company’s stock.
A number of other equities research analysts have also weighed in on MGNX. Cowen set a $27.00 target price on shares of Puma Biotechnology and gave the company a hold rating in a research note on Wednesday, June 5th. HC Wainwright reiterated a neutral rating on shares of Syros Pharmaceuticals in a research note on Thursday, May 2nd. ValuEngine lowered shares of Intersect ENT from a buy rating to a hold rating in a research note on Monday, July 8th. Morgan Stanley reiterated a top pick rating on shares of in a research note on Wednesday, June 5th. Finally, Guggenheim lowered shares of Anadarko Petroleum from a buy rating to a hold rating and set a $69.00 target price for the company. in a research note on Friday, April 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $31.62.
Shares of MGNX opened at $14.69 on Thursday. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 0.08. The company’s fifty day moving average is $16.13. MacroGenics has a 1-year low of $9.87 and a 1-year high of $32.32.
MacroGenics (NASDAQ:MGNX) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.04). The company had revenue of $9.66 million for the quarter, compared to analysts’ expectations of $11.46 million. MacroGenics had a negative net margin of 256.47% and a negative return on equity of 57.65%. Sell-side analysts expect that MacroGenics will post -3.71 earnings per share for the current year.
In other news, SVP Eric Blasius Risser sold 3,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $18.38, for a total transaction of $55,140.00. Following the completion of the sale, the senior vice president now owns 33,806 shares of the company’s stock, valued at approximately $621,354.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 7.88% of the company’s stock.
Hedge funds have recently modified their holdings of the company. 683 Capital Management LLC grew its position in shares of MacroGenics by 14.7% during the 4th quarter. 683 Capital Management LLC now owns 384,970 shares of the biopharmaceutical company’s stock valued at $4,889,000 after acquiring an additional 49,336 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in MacroGenics by 1,253.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 193,600 shares of the biopharmaceutical company’s stock worth $4,327,000 after buying an additional 179,300 shares during the period. Dimensional Fund Advisors LP boosted its holdings in MacroGenics by 38.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 808,201 shares of the biopharmaceutical company’s stock worth $10,264,000 after buying an additional 225,690 shares during the period. Acadian Asset Management LLC boosted its holdings in MacroGenics by 2,597.8% in the 1st quarter. Acadian Asset Management LLC now owns 137,047 shares of the biopharmaceutical company’s stock worth $2,463,000 after buying an additional 131,967 shares during the period. Finally, Millennium Management LLC boosted its holdings in MacroGenics by 13.5% in the 4th quarter. Millennium Management LLC now owns 257,680 shares of the biopharmaceutical company’s stock worth $3,273,000 after buying an additional 30,622 shares during the period. 90.52% of the stock is owned by hedge funds and other institutional investors.
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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