MacroGenics (NASDAQ:MGNX) Price Target Raised to $16.00 at Wedbush

MacroGenics (NASDAQ:MGNX) had its target price boosted by Wedbush from $14.00 to $16.00 in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. The firm currently has an outperform rating on the biopharmaceutical company’s stock. Wedbush also issued estimates for MacroGenics’ Q1 2020 earnings at ($0.84) EPS, Q2 2020 earnings at ($0.41) EPS, Q3 2020 earnings at ($0.68) EPS, Q4 2020 earnings at ($0.42) EPS, FY2020 earnings at ($2.32) EPS, FY2021 earnings at ($1.79) EPS, FY2022 earnings at ($1.39) EPS, FY2023 earnings at ($0.95) EPS and FY2024 earnings at $0.49 EPS.

Other equities research analysts also recently issued reports about the company. Guggenheim initiated coverage on MacroGenics in a research report on Wednesday, November 20th. They issued a hold rating for the company. Cantor Fitzgerald initiated coverage on MacroGenics in a research report on Wednesday, December 18th. They issued an overweight rating and a $17.00 target price for the company. HC Wainwright restated a buy rating and issued a $18.00 target price on shares of MacroGenics in a research report on Friday, December 20th. Morgan Stanley downgraded MacroGenics from an equal rating to an equal weight rating and cut their target price for the stock from $17.00 to $6.00 in a research report on Thursday, November 21st. Finally, Citigroup reduced their price objective on shares of MacroGenics from $39.00 to $18.00 and set a buy rating on the stock in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $22.98.

MGNX traded down $0.59 during trading on Tuesday, reaching $10.81. The stock had a trading volume of 29,636 shares, compared to its average volume of 451,143. The firm has a market capitalization of $574.77 million, a price-to-earnings ratio of -2.99 and a beta of 2.31. The company has a quick ratio of 4.79, a current ratio of 4.79 and a debt-to-equity ratio of 0.11. MacroGenics has a 1-year low of $7.43 and a 1-year high of $32.32. The stock has a 50 day moving average of $10.80 and a two-hundred day moving average of $11.94.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.03. The firm had revenue of $18.74 million during the quarter, compared to the consensus estimate of $23.33 million. MacroGenics had a negative return on equity of 59.67% and a negative net margin of 303.08%. On average, research analysts forecast that MacroGenics will post -3.4 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace North America L.P. bought a new position in shares of MacroGenics in the 1st quarter valued at about $59,000. Marshall Wace LLP bought a new stake in MacroGenics in the 1st quarter valued at about $80,000. Tower Research Capital LLC TRC bought a new stake in MacroGenics in the 3rd quarter valued at about $94,000. Alpine Global Management LLC bought a new stake in MacroGenics in the 4th quarter valued at about $135,000. Finally, AQR Capital Management LLC boosted its holdings in MacroGenics by 31.0% in the 2nd quarter. AQR Capital Management LLC now owns 15,870 shares of the biopharmaceutical company’s stock valued at $269,000 after purchasing an additional 3,751 shares during the period. 94.92% of the stock is owned by 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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