A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of MacroGenics from a hold rating to a sell rating in a report on Friday, February 23rd. BidaskClub downgraded shares of MacroGenics from a buy rating to a hold rating in a research note on Wednesday, April 4th. Morgan Stanley reiterated an equal weight rating and issued a $26.00 target price (up previously from $18.00) on shares of MacroGenics in a research note on Wednesday, March 14th. HC Wainwright assumed coverage on shares of MacroGenics in a research note on Monday, March 5th. They issued a buy rating and a $38.00 target price for the company. Finally, ValuEngine upgraded shares of MacroGenics from a sell rating to a hold rating in a research note on Thursday, March 1st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $30.63.
MacroGenics opened at $21.81 on Wednesday, according to Marketbeat.com. MacroGenics has a 52-week low of $14.36 and a 52-week high of $32.74. The stock has a market cap of $920.85 million, a P/E ratio of -40.39 and a beta of 2.47.
MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.22. MacroGenics had a negative net margin of 19.64% and a negative return on equity of 13.03%. The business had revenue of $152.36 million during the quarter, compared to the consensus estimate of $152.59 million. analysts forecast that MacroGenics will post -4.78 EPS for the current fiscal year.
In other news, SVP Eric Blasius Risser sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $31.08, for a total value of $31,080.00. Following the completion of the transaction, the senior vice president now directly owns 10,100 shares in the company, valued at $313,908. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Karrels sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $31.00, for a total transaction of $155,000.00. The disclosure for this sale can be found here. Insiders sold 34,967 shares of company stock valued at $930,505 in the last quarter. Corporate insiders own 8.82% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its position in shares of MacroGenics by 32.8% in the first quarter. Allianz Asset Management GmbH now owns 68,944 shares of the biopharmaceutical company’s stock valued at $1,735,000 after acquiring an additional 17,010 shares during the period. Millennium Management LLC boosted its position in shares of MacroGenics by 86.2% in the first quarter. Millennium Management LLC now owns 897,982 shares of the biopharmaceutical company’s stock valued at $22,593,000 after acquiring an additional 415,681 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of MacroGenics by 267.1% in the first quarter. Cubist Systematic Strategies LLC now owns 25,312 shares of the biopharmaceutical company’s stock valued at $637,000 after acquiring an additional 18,416 shares during the period. Jane Street Group LLC bought a new position in shares of MacroGenics in the first quarter valued at approximately $407,000. Finally, Barclays PLC boosted its position in shares of 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 during the period. Institutional investors own 89.25% of the company’s stock.
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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