SVB Leerink Raises MacroGenics (NASDAQ:MGNX) Price Target to $27.00

MacroGenics (NASDAQ:MGNX) had its price target hoisted by SVB Leerink from $15.00 to $27.00 in a report issued on Friday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

Several other equities analysts have also issued reports on MGNX. ValuEngine raised MacroGenics from a hold rating to a buy rating in a research note on Thursday, February 6th. Credit Suisse Group boosted their price target on MacroGenics from $13.00 to $30.00 and gave the company an outperform rating in a research note on Tuesday, May 12th. HC Wainwright boosted their price target on MacroGenics from $22.00 to $40.00 and gave the company a buy rating in a research note on Tuesday, May 26th. Citigroup dropped their price target on MacroGenics from $18.00 to $15.00 and set a buy rating on the stock in a research note on Wednesday, February 26th. Finally, Nomura reaffirmed a buy rating and set a $50.00 target price on shares of MacroGenics in a research report on Sunday, May 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $28.46.

Shares of MGNX stock opened at $21.10 on Friday. The business’s 50 day simple moving average is $15.60 and its 200 day simple moving average is $10.73. MacroGenics has a one year low of $4.04 and a one year high of $29.50. The stock has a market capitalization of $945.41 million, a PE ratio of -6.83 and a beta of 2.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.93 and a quick ratio of 4.93.

MacroGenics (NASDAQ:MGNX) last announced its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($0.91) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.01) by $0.10. MacroGenics had a negative return on equity of 62.43% and a negative net margin of 222.14%. The business had revenue of $13.68 million for the quarter, compared to analysts’ expectations of $7.43 million. As a group, research analysts expect that MacroGenics will post -3.3 earnings per share for the current year.

In related news, SVP Eric Blasius Risser sold 8,032 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $20.95, for a total value of $168,270.40. Following the completion of the sale, the senior vice president now directly owns 44,968 shares of the company’s stock, valued at approximately $942,079.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Thomas Spitznagel sold 7,500 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $25.30, for a total value of $189,750.00. Following the completion of the sale, the senior vice president now directly owns 7,500 shares of the company’s stock, valued at $189,750. The disclosure for this sale can be found here. Corporate insiders own 9.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its stake in MacroGenics by 1.6% in the 4th quarter. Rhumbline Advisers now owns 69,386 shares of the biopharmaceutical company’s stock valued at $755,000 after purchasing an additional 1,104 shares during the period. Swiss National Bank grew its stake in MacroGenics by 1.3% in the 1st quarter. Swiss National Bank now owns 90,100 shares of the biopharmaceutical company’s stock valued at $524,000 after purchasing an additional 1,200 shares during the period. Bank of Montreal Can grew its stake in MacroGenics by 10.4% in the 4th quarter. Bank of Montreal Can now owns 21,276 shares of the biopharmaceutical company’s stock valued at $231,000 after purchasing an additional 2,005 shares during the period. Citigroup Inc. grew its stake in MacroGenics by 7.1% in the 1st quarter. Citigroup Inc. now owns 38,802 shares of the biopharmaceutical company’s stock valued at $226,000 after purchasing an additional 2,568 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in MacroGenics by 0.4% in the 4th quarter. Nuveen Asset Management LLC now owns 706,895 shares of the biopharmaceutical company’s stock valued at $7,691,000 after purchasing an additional 3,007 shares during the period. 91.24% of the stock is owned by institutional investors and hedge funds.

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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