MacroGenics (NASDAQ:MGNX) Price Target Cut to $18.00 by Analysts at Leerink Swann

MacroGenics (NASDAQ:MGNX) had its price objective reduced by Leerink Swann from $26.00 to $18.00 in a report released on Wednesday morning, The Fly reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

Several other research firms have also weighed in on MGNX. Zacks Investment Research lowered shares of MacroGenics from a buy rating to a hold rating in a report on Thursday, October 3rd. ValuEngine lowered shares of MacroGenics from a buy rating to a hold rating in a report on Monday, July 8th. BidaskClub lowered shares of MacroGenics from a sell rating to a strong sell rating in a report on Friday, July 19th. Wedbush cut their target price on shares of MacroGenics from $23.00 to $14.00 and set an outperform rating for the company in a report on Wednesday. Finally, Stifel Nicolaus cut their target price on shares of MacroGenics from $29.00 to $25.00 and set a buy rating for the company in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $26.71.

NASDAQ MGNX traded down $0.35 on Wednesday, hitting $9.00. 801,300 shares of the company’s stock traded hands, compared to its average volume of 871,683. The company has a current ratio of 5.81, a quick ratio of 5.81 and a debt-to-equity ratio of 0.08. MacroGenics has a 1-year low of $8.86 and a 1-year high of $32.32. The firm’s 50-day moving average price is $12.38 and its two-hundred day moving average price is $15.22. The firm has a market capitalization of $454.68 million, a PE ratio of -2.15 and a beta of 2.34.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($0.65) EPS for the quarter, beating the consensus estimate of ($0.96) by $0.31. MacroGenics had a negative net margin of 273.47% and a negative return on equity of 54.52%. The business had revenue of $10.59 million during the quarter, compared to analysts’ expectations of $17.58 million. On average, research analysts anticipate that MacroGenics will post -3.33 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Rhumbline Advisers grew its holdings in MacroGenics by 6.2% in the 3rd quarter. Rhumbline Advisers now owns 68,282 shares of the biopharmaceutical company’s stock valued at $871,000 after buying an additional 4,006 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of MacroGenics in the 3rd quarter valued at about $345,000. Macquarie Group Ltd. lifted its stake in shares of MacroGenics by 5.8% in the 2nd quarter. Macquarie Group Ltd. now owns 275,000 shares of the biopharmaceutical company’s stock valued at $4,667,000 after purchasing an additional 15,000 shares in the last quarter. ClariVest Asset Management LLC lifted its stake in shares of MacroGenics by 19.6% in the 2nd quarter. ClariVest Asset Management LLC now owns 22,600 shares of the biopharmaceutical company’s stock valued at $384,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in shares of MacroGenics in the 2nd quarter valued at about $13,561,000. 95.88% of the stock is owned by hedge funds and other institutional investors.

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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