MacroGenics, Inc. (NASDAQ:MGNX) Receives $7.63 Consensus Target Price from Analysts

MacroGenics, Inc. (NASDAQ:MGNX) has earned an average recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $7.63.

Several brokerages have recently issued reports on MGNX. Barclays lowered their target price on shares of MacroGenics from $14.00 to $9.00 and set an “overweight” rating for the company in a report on Monday, July 29th. Guggenheim lowered MacroGenics from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st. Evercore ISI raised MacroGenics to a “strong-buy” rating in a report on Monday, September 16th. Citigroup dropped their price target on MacroGenics from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, StockNews.com raised MacroGenics from a “sell” rating to a “buy” rating in a research report on Sunday, November 10th.

MacroGenics Stock Up 0.9 %

Shares of MGNX opened at $3.24 on Wednesday. The company has a market capitalization of $203.34 million, a price-to-earnings ratio of -2.05 and a beta of 2.08. MacroGenics has a 52-week low of $2.95 and a 52-week high of $21.88. The stock has a 50 day moving average price of $3.64 and a 200 day moving average price of $4.07.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its position in MacroGenics by 8,361.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,438,050 shares of the biopharmaceutical company’s stock valued at $35,889,000 after buying an additional 2,409,237 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its stake in shares of MacroGenics by 21.8% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,010,727 shares of the biopharmaceutical company’s stock worth $12,796,000 after acquiring an additional 539,023 shares during the period. Swiss National Bank purchased a new stake in shares of MacroGenics in the first quarter valued at about $1,351,000. Millennium Management LLC increased its stake 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 acquiring an additional 3,219,977 shares during the period. Finally, Marshall Wace LLP increased its stake 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 acquiring an additional 621,232 shares during the period. Institutional investors and hedge funds own 96.89% of the company’s stock.

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.