MacroGenics (NASDAQ:MGNX) Given New $14.00 Price Target at Citigroup

MacroGenics (NASDAQ:MGNX) had its price target lowered by Citigroup from $16.00 to $14.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Several other research firms have also weighed in on MGNX. HC Wainwright reaffirmed a neutral rating and set a $4.00 price target on shares of MacroGenics in a research report on Thursday, August 1st. Barclays lowered their price target on MacroGenics from $14.00 to $9.00 and set an overweight rating on the stock in a research report on Monday, July 29th. StockNews.com lowered MacroGenics from a hold rating to a sell rating in a research note on Thursday, August 8th. JMP Securities dropped their price target on MacroGenics from $16.00 to $8.00 and set a market outperform rating for the company in a report on Wednesday, July 31st. Finally, Stifel Nicolaus cut MacroGenics from a buy rating to a hold rating and lowered their price objective for the stock from $29.00 to $7.00 in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $8.11.

MacroGenics Price Performance

Shares of MacroGenics stock opened at $3.23 on Thursday. The stock’s 50-day moving average is $4.36 and its 200-day moving average is $10.47. MacroGenics has a one year low of $3.14 and a one year high of $21.88. The firm has a market cap of $202.30 million, a price-to-earnings ratio of -8.28 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). MacroGenics had a negative return on equity of 98.01% and a negative net margin of 53.60%. The firm had revenue of $10.80 million for the quarter, compared to analyst estimates of $24.14 million. On average, equities analysts expect that MacroGenics will post -2.19 EPS for the current year.

Institutional Investors Weigh In On MacroGenics

Hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC grew its holdings in shares of MacroGenics by 8.9% during the first quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock worth $225,000 after purchasing an additional 1,246 shares during the last quarter. Diversified Trust Co raised its holdings in shares of MacroGenics by 16.0% during the first quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock valued at $201,000 after purchasing an additional 1,880 shares during the period. EntryPoint Capital LLC bought a new stake in shares of MacroGenics during the first quarter valued at approximately $40,000. Mirae Asset Global Investments Co. Ltd. lifted its position in MacroGenics by 7.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,337 shares of the biopharmaceutical company’s stock valued at $475,000 after acquiring an additional 3,319 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co bought a new position in shares of MacroGenics in the first quarter valued at approximately $52,000. 96.89% of the stock is currently owned by institutional investors and hedge funds.

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.