HC Wainwright Reiterates “Neutral” Rating for MacroGenics (NASDAQ:MGNX)

MacroGenics (NASDAQ:MGNX)‘s stock had its “neutral” rating restated by HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $4.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential downside of 10.31% from the stock’s previous close. HC Wainwright also issued estimates for MacroGenics’ Q4 2024 earnings at ($0.12) EPS, FY2024 earnings at ($0.95) EPS, Q1 2025 earnings at ($0.70) EPS, Q2 2025 earnings at ($0.72) EPS, Q3 2025 earnings at ($0.74) EPS, Q4 2025 earnings at ($0.76) EPS and FY2025 earnings at ($2.92) EPS.

MGNX has been the subject of several other research reports. Guggenheim lowered shares of MacroGenics from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 31st. B. Riley lowered shares of MacroGenics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $5.00 in a research note on Wednesday, July 31st. Barclays decreased their target price on MacroGenics from $14.00 to $9.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. StockNews.com cut MacroGenics from a “hold” rating to a “sell” rating in a research report on Saturday, November 2nd. Finally, Evercore ISI upgraded MacroGenics to a “strong-buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.63.

MacroGenics Price Performance

NASDAQ:MGNX opened at $4.46 on Wednesday. The firm has a 50-day moving average of $3.59 and a two-hundred day moving average of $5.11. The stock has a market cap of $279.73 million, a P/E ratio of -2.03 and a beta of 2.08. MacroGenics has a 1-year low of $2.95 and a 1-year high of $21.88.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). MacroGenics had a negative return on equity of 146.01% and a negative net margin of 332.47%. The company had revenue of $10.80 million during the quarter, compared to the consensus estimate of $24.14 million. As a group, equities analysts expect that MacroGenics will post -1.72 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. EntryPoint Capital LLC acquired a new position in shares of MacroGenics in the first quarter worth $40,000. China Universal Asset Management Co. Ltd. increased its position in MacroGenics by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 4,707 shares during the last quarter. CANADA LIFE ASSURANCE Co acquired a new position in MacroGenics in the 1st quarter worth about $52,000. SG Americas Securities LLC purchased a new stake in shares of MacroGenics during the 3rd quarter worth about $55,000. Finally, DRW Securities LLC acquired a new stake in shares of MacroGenics during the 2nd quarter valued at about $56,000. Hedge funds and other institutional investors own 96.89% of the company’s stock.

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.