MacroGenics (NASDAQ:MGNX) had its target price lifted by equities research analysts at Morgan Stanley from $11.00 to $12.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The firm currently has an “underweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s target price points to a potential downside of 52.76% from the company’s previous close.

Several other equities research analysts also recently commented on MGNX. SVB Leerink upped their price target on shares of MacroGenics from $15.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Nomura restated a “buy” rating and issued a $50.00 price target on shares of MacroGenics in a research report on Sunday, May 17th. Stifel Nicolaus upped their price target on shares of MacroGenics from $21.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, May 29th. They noted that the move was a valuation call. Credit Suisse Group upped their price target on shares of MacroGenics from $13.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Finally, Citigroup upped their price target on shares of MacroGenics from $15.00 to $25.00 in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company. MacroGenics presently has a consensus rating of “Buy” and a consensus target price of $29.77.

Shares of NASDAQ:MGNX opened at $25.40 on Friday. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -7.51 and a beta of 2.84. MacroGenics has a 1-year low of $4.04 and a 1-year high of $32.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.93 and a current ratio of 4.93. The company has a 50 day moving average price of $27.23 and a 200 day moving average price of $15.58.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($0.94) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.92) by ($0.02). The business had revenue of $20.26 million for the quarter, compared to the consensus estimate of $14.19 million. MacroGenics had a negative return on equity of 73.93% and a negative net margin of 214.06%. On average, sell-side analysts expect that MacroGenics will post -3.07 EPS for the current fiscal year.

In related news, SVP Thomas Spitznagel sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $25.30, for a total transaction of $189,750.00. Following the completion of the transaction, the senior vice president now owns 7,500 shares in the company, valued at $189,750. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Eric Blasius Risser sold 8,032 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $20.95, for a total transaction of $168,270.40. Following the transaction, the senior vice president now owns 44,968 shares of the company’s stock, valued at approximately $942,079.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,621 shares of company stock valued at $579,600. 9.00% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in MGNX. Baker Avenue Asset Management LP acquired a new position in shares of MacroGenics in the first quarter valued at approximately $58,000. Marshall Wace North America L.P. acquired a new position in shares of MacroGenics in the first quarter valued at approximately $59,000. Arizona State Retirement System acquired a new position in shares of MacroGenics in the first quarter valued at approximately $63,000. Marshall Wace LLP acquired a new position in shares of MacroGenics in the first quarter valued at approximately $80,000. Finally, SG Americas Securities LLC acquired a new position in shares of MacroGenics in the first quarter valued at approximately $85,000. Institutional investors own 91.25% of the company’s stock.

About MacroGenics

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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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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