MacroGenics (NASDAQ:MGNX) Given New $5.00 Price Target at BMO Capital Markets

MacroGenics (NASDAQ:MGNX) had its price target trimmed by BMO Capital Markets from $8.00 to $5.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a market perform rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. HC Wainwright restated a neutral rating and set a $4.00 price target on shares of MacroGenics in a report on Thursday, August 1st. JMP Securities cut their target price on shares of MacroGenics from $16.00 to $8.00 and set a market outperform rating on the stock in a report on Wednesday, July 31st. Stifel Nicolaus lowered shares of MacroGenics from a buy rating to a hold rating and dropped their price objective for the stock from $29.00 to $7.00 in a report on Friday, May 10th. BTIG Research lowered shares of MacroGenics from a buy rating to a neutral rating in a report on Thursday, August 1st. Finally, Barclays dropped their price objective on shares of MacroGenics from $14.00 to $9.00 and set an overweight rating on the stock in a report on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, MacroGenics currently has a consensus rating of Hold and an average target price of $8.00.

MacroGenics Stock Up 0.6 %

MGNX stock traded up $0.02 during mid-day trading on Wednesday, reaching $3.40. 539,793 shares of the stock traded hands, compared to its average volume of 1,829,394. MacroGenics has a 52 week low of $3.14 and a 52 week high of $21.88. The business has a 50-day moving average of $4.51 and a two-hundred day moving average of $10.96. The firm has a market capitalization of $212.95 million, a PE ratio of -8.67 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). MacroGenics had a negative net margin of 53.60% and a negative return on equity of 98.01%. The firm had revenue of $10.80 million for the quarter, compared to the consensus estimate of $24.14 million. On average, equities research analysts anticipate that MacroGenics will post -2.19 EPS for the current fiscal year.

Institutional Trading of MacroGenics

A number of institutional investors have recently bought and sold shares of the business. EntryPoint Capital LLC acquired a new position in shares of MacroGenics in the 1st quarter valued at approximately $40,000. CANADA LIFE ASSURANCE Co acquired a new position in shares of MacroGenics in the 1st quarter valued at approximately $52,000. Sound Income Strategies LLC acquired a new position in shares of MacroGenics in the 1st quarter valued at approximately $77,000. AJOVista LLC acquired a new position in shares of MacroGenics in the 4th quarter valued at approximately $51,000. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of MacroGenics by 66.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,935 shares of the biopharmaceutical company’s stock valued at $176,000 after buying an additional 4,761 shares in the last quarter. Institutional investors 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.