MacroGenics, Inc. (NASDAQ:MGNX) Receives $7.63 Average Price Target from Brokerages

MacroGenics, Inc. (NASDAQ:MGNX) has been given a consensus recommendation of “Hold” by the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $7.63.

Several analysts recently commented on MGNX shares. HC Wainwright reiterated a “neutral” rating and issued a $4.00 price objective on shares of MacroGenics in a research note on Wednesday, November 6th. Evercore ISI upgraded shares of MacroGenics to a “strong-buy” rating in a research note on Monday, September 16th. StockNews.com upgraded shares of MacroGenics from a “sell” rating to a “buy” rating in a research note on Sunday, November 10th. Finally, JMP Securities cut shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th.

MacroGenics Stock Performance

MGNX stock opened at $3.17 on Thursday. MacroGenics has a one year low of $2.95 and a one year high of $21.88. The company has a fifty day moving average of $3.48 and a 200-day moving average of $3.72. The stock has a market capitalization of $198.96 million, a PE ratio of -2.01 and a beta of 2.04.

Institutional Investors Weigh In On MacroGenics

A number of hedge funds and other institutional investors have recently modified their holdings of MGNX. Armistice Capital LLC grew its holdings in shares of MacroGenics by 150.0% during the second quarter. Armistice Capital LLC now owns 6,000,000 shares of the biopharmaceutical company’s stock worth $25,500,000 after buying an additional 3,600,000 shares in the last quarter. Millennium Management LLC grew its holdings in shares of MacroGenics by 3,473.7% during the second quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock worth $14,079,000 after buying an additional 3,219,977 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of MacroGenics by 1,689.3% during the second quarter. Marshall Wace LLP now owns 658,007 shares of the biopharmaceutical company’s stock worth $2,797,000 after buying an additional 621,232 shares in the last quarter. Frazier Life Sciences Management L.P. grew its holdings in shares of MacroGenics by 21.8% during the second quarter. Frazier Life Sciences Management L.P. now owns 3,010,727 shares of the biopharmaceutical company’s stock worth $12,796,000 after buying an additional 539,023 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of MacroGenics by 39.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 661,914 shares of the biopharmaceutical company’s stock worth $2,178,000 after buying an additional 186,858 shares in the last quarter. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

MacroGenics Company Profile

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.