MacroGenics (MGNX) Trading Up 10.6%

MacroGenics Inc (NASDAQ:MGNX) was up 10.6% on Thursday . The company traded as high as $18.65 and last traded at $18.00. Approximately 2,563,337 shares changed hands during trading, an increase of 109% from the average daily volume of 1,224,951 shares. The stock had previously closed at $16.27.

A number of equities research analysts recently weighed in on MGNX shares. HC Wainwright reaffirmed a “buy” rating and set a $39.00 price objective (up previously from $34.00) on shares of MacroGenics in a research report on Wednesday, February 6th. Nomura raised their price objective on MacroGenics from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 7th. SunTrust Banks raised their price objective on MacroGenics to $40.00 and gave the company a “buy” rating in a research report on Thursday, February 7th. Citigroup raised MacroGenics from a “sell” rating to a “buy” rating and raised their price objective for the company from $10.00 to $39.00 in a research report on Thursday, February 7th. Finally, Cowen reaffirmed a “buy” rating on shares of MacroGenics in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $32.07.

The stock has a market cap of $793.09 million, a price-to-earnings ratio of -4.30 and a beta of 2.90. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 0.08.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.04). MacroGenics had a negative net margin of 256.47% and a negative return on equity of 57.65%. The business had revenue of $9.66 million during the quarter, compared to analysts’ expectations of $11.46 million. On average, equities analysts predict that MacroGenics Inc will post -3.76 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. purchased a new stake in MacroGenics in the first quarter valued at about $59,000. Acadian Asset Management LLC purchased a new stake in MacroGenics in the fourth quarter valued at about $65,000. Pearl River Capital LLC purchased a new stake in MacroGenics in the first quarter valued at about $74,000. NumerixS Investment Technologies Inc purchased a new stake in MacroGenics in the first quarter valued at about $74,000. Finally, Great West Life Assurance Co. Can raised its stake in MacroGenics by 148.6% in 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 buying an additional 3,715 shares during the last quarter. Institutional investors own 76.23% of the company’s stock.

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MacroGenics Company Profile (NASDAQ:MGNX)

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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