Wedbush Reaffirms Outperform Rating for MacroGenics (NASDAQ:MGNX)
Wedbush reissued their outperform rating on shares of MacroGenics (NASDAQ:MGNX) in a report issued on Thursday, RTT News reports. Wedbush currently has a $27.00 price target on the biopharmaceutical company’s stock.
Several other equities analysts have also weighed in on MGNX. BidaskClub lowered Extraction Oil & Gas from a hold rating to a sell rating in a report on Saturday, May 4th. Zacks Investment Research lowered ExlService from a hold rating to a sell rating in a report on Wednesday, July 10th. HC Wainwright reissued a neutral rating on shares of Syros Pharmaceuticals in a report on Thursday, May 2nd. Morgan Stanley reissued a top pick rating on shares of in a report on Wednesday, June 5th. Finally, Stifel Nicolaus reduced their price objective on MacroGenics from $36.00 to $29.00 and set a buy rating for the company in a report on Wednesday, June 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $31.62.
Shares of MGNX opened at $14.69 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.47 and a quick ratio of 6.47. The firm’s 50 day simple moving average is $16.13. MacroGenics has a 12 month low of $9.87 and a 12 month high of $32.32.
In other news, SVP Eric Blasius Risser sold 4,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $18.54, for a total value of $74,160.00. Following the completion of the transaction, the senior vice president now directly owns 33,806 shares of the company’s stock, valued at $626,763.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.88% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Sphera Funds Management LTD. bought a new stake in MacroGenics during the 1st quarter valued at approximately $4,225,000. Marshall Wace North America L.P. bought a new stake in MacroGenics during the 1st quarter valued at approximately $59,000. Marshall Wace LLP bought a new stake in MacroGenics during the 1st quarter valued at approximately $80,000. GMT Capital Corp bought a new stake in MacroGenics during the 1st quarter valued at approximately $4,588,000. Finally, OppenheimerFunds Inc. boosted its position in MacroGenics by 0.4% during the 1st quarter. OppenheimerFunds Inc. now owns 4,463,410 shares of the biopharmaceutical company’s stock valued at $80,252,000 after acquiring an additional 16,569 shares in the last quarter. 90.52% of the stock is owned by hedge funds and other institutional investors.
MacroGenics Company Profile
MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.
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