MacroGenics Inc (MGNX) Receives $34.85 Consensus Price Target from Brokerages

Shares of MacroGenics Inc (NASDAQ:MGNX) have earned a consensus recommendation of “Hold” from the fifteen brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $34.85.

Several research firms recently weighed in on MGNX. Guggenheim began coverage on MacroGenics in a research report on Friday. They set a “neutral” rating on the stock. HC Wainwright restated a “buy” rating and set a $39.00 price target on shares of MacroGenics in a research report on Thursday, April 4th. ValuEngine lowered MacroGenics from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. Zacks Investment Research lowered MacroGenics from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Nomura lifted their price target on MacroGenics from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 7th.

Shares of NASDAQ MGNX traded up $0.11 during mid-day trading on Wednesday, hitting $17.52. 17,699 shares of the stock traded hands, compared to its average volume of 762,267. MacroGenics has a 52 week low of $9.87 and a 52 week high of $32.32. The firm has a market capitalization of $856.44 million, a PE ratio of -4.19 and a beta of 2.99.



In other MacroGenics news, Director Matthew K. Fust sold 6,924 shares of the business’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $29.38, for a total value of $203,427.12. Following the sale, the director now directly owns 7,424 shares of the company’s stock, valued at $218,117.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Thomas Spitznagel sold 1,770 shares of the business’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $30.00, for a total value of $53,100.00. Following the completion of the sale, the senior vice president now directly owns 1,770 shares in the company, valued at $53,100. The disclosure for this sale can be found here. Insiders sold 8,762 shares of company stock worth $258,567 over the last three months. Corporate insiders own 8.82% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MGNX. Acadian Asset Management LLC bought a new position in shares of MacroGenics during the fourth quarter valued at $65,000. Great West Life Assurance Co. Can lifted its holdings in shares of MacroGenics by 148.6% during the fourth quarter. Great West Life Assurance Co. Can now owns 6,215 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 3,715 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of MacroGenics by 20.4% during the fourth quarter. Legal & General Group Plc now owns 7,432 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 1,261 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of MacroGenics by 4,851.9% during the fourth quarter. Meeder Asset Management Inc. now owns 12,033 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 11,790 shares in the last quarter. Finally, Sun Life Financial INC lifted its holdings in shares of MacroGenics by 58.0% during the fourth quarter. Sun Life Financial INC now owns 12,947 shares of the biopharmaceutical company’s stock valued at $164,000 after purchasing an additional 4,751 shares in the last quarter. 75.39% of the stock is currently owned by institutional investors and hedge funds.

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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