MacroGenics (NASDAQ:MGNX) Given a $19.00 Price Target by Morgan Stanley Analysts

Morgan Stanley set a $19.00 price objective on MacroGenics (NASDAQ:MGNX) in a report published on Wednesday, June 5th, TipRanks reports. The firm currently has a hold rating on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the stock. Stifel Nicolaus reduced their target price on shares of MacroGenics from $36.00 to $29.00 and set a buy rating on the stock in a report on Wednesday, June 5th. Wedbush restated an outperform rating and issued a $27.00 target price (up from $26.00) on shares of MacroGenics in a report on Wednesday, June 5th. Cowen restated a buy rating on shares of MacroGenics in a report on Wednesday, June 5th. ValuEngine downgraded shares of MacroGenics from a buy rating to a hold rating in a report on Tuesday, June 4th. Finally, BidaskClub upgraded shares of MacroGenics from a strong sell rating to a sell rating in a report on Saturday, May 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $31.62.

Shares of MGNX traded up $0.32 during trading hours on Wednesday, reaching $16.97. 2,292,500 shares of the stock traded hands, compared to its average volume of 1,157,800. The company has a market capitalization of $790.65 million, a P/E ratio of -4.05 and a beta of 2.61. MacroGenics has a 52-week low of $9.87 and a 52-week high of $32.32. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.47 and a current ratio of 6.47. The company’s 50-day simple moving average is $16.91.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.04). The company had revenue of $9.66 million during the quarter, compared to analysts’ expectations of $11.46 million. MacroGenics had a negative return on equity of 57.65% and a negative net margin of 256.47%. Equities research analysts expect that MacroGenics will post -3.75 earnings per share for the current fiscal year.

In other news, SVP Eric Blasius Risser sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $18.38, for a total value 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 7.88% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. OppenheimerFunds Inc. lifted its position in MacroGenics by 0.4% during the first quarter. OppenheimerFunds Inc. now owns 4,463,410 shares of the biopharmaceutical company’s stock valued at $80,252,000 after acquiring an additional 16,569 shares during the last quarter. BlackRock Inc. increased its stake in MacroGenics by 5.5% during the 4th quarter. BlackRock Inc. now owns 3,401,391 shares of the biopharmaceutical company’s stock valued at $43,198,000 after purchasing an additional 176,135 shares in the last quarter. BB Biotech AG increased its stake in MacroGenics by 9.8% during the 4th quarter. BB Biotech AG now owns 3,283,272 shares of the biopharmaceutical company’s stock valued at $41,698,000 after purchasing an additional 292,860 shares in the last quarter. Vanguard Group Inc. increased its stake in MacroGenics by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,270,541 shares of the biopharmaceutical company’s stock valued at $48,680,000 after purchasing an additional 165,937 shares in the last quarter. Finally, Wasatch Advisors Inc. increased its stake in MacroGenics by 23.6% during the 1st quarter. Wasatch Advisors Inc. now owns 1,291,513 shares of the biopharmaceutical company’s stock valued at $23,221,000 after purchasing an additional 246,536 shares in the last quarter. 90.52% of the stock is owned by 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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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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