MacroGenics (NASDAQ:MGNX) Given New $2.00 Price Target at HC Wainwright

MacroGenics (NASDAQ:MGNX) had its price target reduced by equities researchers at HC Wainwright from $4.00 to $2.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 2.04% from the company’s previous close.

Separately, StockNews.com downgraded MacroGenics from a “buy” rating to a “hold” rating in a research report on Friday. Nine analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, MacroGenics currently has a consensus rating of “Hold” and an average price target of $7.38.

MacroGenics Stock Down 1.8 %

MGNX stock opened at $1.96 on Tuesday. MacroGenics has a 52 week low of $1.89 and a 52 week high of $19.54. The firm has a market capitalization of $123.02 million, a P/E ratio of -1.24 and a beta of 2.12. The company has a fifty day simple moving average of $2.63 and a two-hundred day simple moving average of $3.21.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. The business had revenue of $49.40 million during the quarter, compared to the consensus estimate of $34.17 million. As a group, analysts anticipate that MacroGenics will post -1.06 EPS for the current year.

Institutional Trading of MacroGenics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC bought a new stake in MacroGenics during the 4th quarter valued at about $32,000. XTX Topco Ltd purchased a new position in shares of MacroGenics during the third quarter worth approximately $37,000. American Century Companies Inc. bought a new stake in shares of MacroGenics during the fourth quarter valued at approximately $38,000. Sanders Morris Harris LLC bought a new stake in shares of MacroGenics during the fourth quarter valued at approximately $40,000. Finally, Jump Financial LLC bought a new position in MacroGenics in the fourth quarter worth approximately $44,000. 96.89% of the stock is currently owned by institutional investors.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.