MacroGenics (NASDAQ:MGNX) Stock Rating Reaffirmed by Wedbush

Wedbush reiterated their outperform rating on shares of MacroGenics (NASDAQ:MGNX) in a research report report published on Wednesday, June 5th, RTT News reports. The firm currently has a $27.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $26.00. Wedbush also issued estimates for MacroGenics’ FY2020 earnings at ($4.27) EPS, FY2021 earnings at ($3.78) EPS, FY2022 earnings at ($2.33) EPS and FY2023 earnings at $0.40 EPS.

Other research analysts have also issued research reports about the company. ValuEngine upgraded MacroGenics from a buy rating to a strong-buy rating in a report on Thursday, February 7th. SunTrust Banks increased their price objective on MacroGenics to $40.00 and gave the stock a buy rating in a research note on Thursday, February 7th. Citigroup raised MacroGenics from a sell rating to a buy rating and increased their price objective for the stock from $10.00 to $39.00 in a research note on Thursday, February 7th. HC Wainwright reissued a buy rating and issued a $39.00 price objective (up from $34.00) on shares of MacroGenics in a research note on Wednesday, February 6th. Finally, Raymond James raised MacroGenics from an underperform rating to a market perform rating and set a $26.80 price objective for the company in a research note on Wednesday, February 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. MacroGenics presently has a consensus rating of Buy and an average price target of $31.62.

Shares of MacroGenics stock traded up $0.32 on Wednesday, hitting $16.97. 2,292,526 shares of the company’s stock traded hands, compared to its average volume of 976,974. MacroGenics has a one year low of $9.87 and a one year high of $32.32. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.47 and a quick ratio of 6.47. The firm’s fifty day moving average price is $16.91. The company has a market cap of $828.31 million, a P/E ratio of -4.05 and a beta of 2.61.

MacroGenics (NASDAQ:MGNX) last announced its 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). MacroGenics had a negative net margin of 256.47% and a negative return on equity of 57.65%. The business had revenue of $9.66 million for the quarter, compared to the consensus estimate of $11.46 million. As a group, analysts expect that MacroGenics will post -3.75 EPS for the current year.

In other MacroGenics news, SVP Eric Blasius Risser sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $18.38, for a total transaction of $55,140.00. Following the sale, the senior vice president now owns 33,806 shares in the company, valued at $621,354.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.88% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGNX. Sphera Funds Management LTD. bought a new position in MacroGenics in the 1st quarter valued at approximately $4,225,000. Marshall Wace North America L.P. bought a new position in MacroGenics in the 1st quarter valued at approximately $59,000. Marshall Wace LLP bought a new position in MacroGenics in the 1st quarter valued at approximately $80,000. GMT Capital Corp bought a new position in MacroGenics in the 1st quarter valued at approximately $4,588,000. Finally, OppenheimerFunds Inc. lifted its position in MacroGenics by 0.4% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 90.52% of the company’s stock.

About MacroGenics

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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