MacroGenics (NASDAQ:MGNX) PT Lowered to $25.00 at Stifel Nicolaus

MacroGenics (NASDAQ:MGNX) had its target price cut by investment analysts at Stifel Nicolaus from $29.00 to $25.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 79.47% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Cowen reissued a “buy” rating on shares of MacroGenics in a report on Wednesday, June 5th. BidaskClub cut MacroGenics from a “sell” rating to a “strong sell” rating in a report on Friday, July 19th. Credit Suisse Group assumed coverage on MacroGenics in a report on Wednesday, April 17th. They set an “outperform” rating and a $29.00 price objective on the stock. Guggenheim assumed coverage on MacroGenics in a report on Friday, April 12th. They set a “neutral” rating on the stock. Finally, Zacks Investment Research raised MacroGenics from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $31.25.

Shares of MGNX stock traded down $0.74 on Thursday, hitting $13.93. 386,437 shares of the stock were exchanged, compared to its average volume of 412,555. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $702.31 million, a price-to-earnings ratio of -3.32 and a beta of 2.36. MacroGenics has a one year low of $9.87 and a one year high of $32.32. The firm has a 50 day moving average price of $15.65.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, topping the consensus estimate of ($0.96) by $0.31. The company had revenue of $10.59 million during the quarter, compared to the consensus estimate of $17.58 million. MacroGenics had a negative return on equity of 55.12% and a negative net margin of 273.47%. Sell-side analysts expect that MacroGenics will post -3.71 earnings per share for the current year.

In other MacroGenics news, SVP Eric Blasius Risser sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $18.38, for a total value of $55,140.00. Following the sale, the senior vice president now owns 33,806 shares of the company’s stock, valued at approximately $621,354.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.88% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. purchased a new stake in shares of MacroGenics in the 1st quarter valued at about $59,000. Pearl River Capital LLC purchased a new stake in shares of MacroGenics in the 1st quarter valued at about $74,000. Marshall Wace LLP purchased a new stake in shares of MacroGenics in the 1st quarter valued at about $80,000. Bank of Montreal Can raised its holdings in shares of MacroGenics by 804.2% in the 1st quarter. Bank of Montreal Can now owns 5,000 shares of the biopharmaceutical company’s stock valued at $90,000 after acquiring an additional 4,447 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in shares of MacroGenics by 148.6% in the 4th quarter. Great West Life Assurance Co. Can now owns 6,215 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 3,715 shares in the last quarter. 90.27% of the stock is currently 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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