MacroGenics (NASDAQ:MGNX) Price Target Cut to $14.00 by Analysts at Barclays

MacroGenics (NASDAQ:MGNX) had its target price trimmed by Barclays from $25.00 to $14.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

Several other brokerages also recently weighed in on MGNX. JMP Securities decreased their price target on MacroGenics from $22.00 to $16.00 and set a market outperform rating for the company in a report on Friday. BTIG Research boosted their price target on shares of MacroGenics from $12.00 to $24.00 and gave the stock a buy rating in a research note on Monday, March 4th. TD Cowen downgraded shares of MacroGenics from a buy rating to a hold rating in a research report on Friday. TheStreet lowered MacroGenics from a c rating to a d rating in a report on Thursday, March 7th. Finally, Stifel Nicolaus downgraded MacroGenics from a buy rating to a hold rating and cut their target price for the stock from $29.00 to $7.00 in a research note on Friday. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, MacroGenics has an average rating of Moderate Buy and a consensus target price of $14.78.

MacroGenics Price Performance

NASDAQ MGNX traded down $11.36 on Friday, reaching $3.31. The stock had a trading volume of 34,882,938 shares, compared to its average volume of 1,024,072. The business’s 50-day moving average price is $16.00 and its 200 day moving average price is $12.61. MacroGenics has a 12-month low of $3.14 and a 12-month high of $21.88.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.17). MacroGenics had a negative net margin of 53.60% and a negative return on equity of 88.57%. The business had revenue of $9.10 million during the quarter, compared to analyst estimates of $13.63 million. On average, research analysts forecast that MacroGenics will post -2.79 earnings per share for the current year.

Insider Activity at MacroGenics

In other news, VP Jeffrey Stuart Peters sold 51,395 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $15.55, for a total transaction of $799,192.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 11.30% of the stock is owned by insiders.

Institutional Investors Weigh In On MacroGenics

Several hedge funds have recently modified their holdings of MGNX. Bellevue Group AG increased its holdings in MacroGenics by 1.5% during the 4th quarter. Bellevue Group AG now owns 9,953,313 shares of the biopharmaceutical company’s stock worth $95,751,000 after purchasing an additional 150,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in MacroGenics by 0.8% in the third quarter. Vanguard Group Inc. now owns 4,414,924 shares of the biopharmaceutical company’s stock valued at $20,574,000 after acquiring an additional 36,396 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its stake in MacroGenics by 33.2% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,401,704 shares of the biopharmaceutical company’s stock valued at $23,104,000 after acquiring an additional 598,500 shares during the last quarter. Acadian Asset Management LLC boosted its stake in MacroGenics by 7.8% during the 3rd quarter. Acadian Asset Management LLC now owns 1,371,396 shares of the biopharmaceutical company’s stock valued at $6,388,000 after acquiring an additional 99,755 shares during the last quarter. Finally, Silverarc Capital Management LLC grew its holdings in MacroGenics by 4.0% during the 3rd quarter. Silverarc Capital Management LLC now owns 1,264,158 shares of the biopharmaceutical company’s stock worth $5,891,000 after acquiring an additional 48,483 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.