MacroGenics (NASDAQ:MGNX) Coverage Initiated at B. Riley

Research analysts at B. Riley assumed coverage on shares of MacroGenics (NASDAQ:MGNX) in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage set a “buy” rating and a $25.00 price target on the biopharmaceutical company’s stock. B. Riley’s target price indicates a potential upside of 73.97% from the stock’s previous close.

Other analysts also recently issued reports about the company. JMP Securities restated a “market outperform” rating on shares of MacroGenics in a research report on Thursday, April 4th. HC Wainwright lowered shares of MacroGenics from a “buy” rating to a “neutral” rating and raised their target price for the company from $12.00 to $14.00 in a research report on Wednesday, February 14th. TheStreet cut MacroGenics from a “c” rating to a “d” rating in a research note on Thursday, March 7th. BTIG Research raised their price objective on MacroGenics from $12.00 to $24.00 and gave the company a “buy” rating in a report on Monday, March 4th. Finally, Barclays upped their target price on MacroGenics from $12.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

MacroGenics Stock Down 8.5 %

Shares of MacroGenics stock opened at $14.37 on Friday. The firm’s 50-day moving average price is $16.79 and its two-hundred day moving average price is $11.89. The company has a market capitalization of $898.99 million, a price-to-earnings ratio of -89.81 and a beta of 2.09. MacroGenics has a 12-month low of $4.29 and a 12-month high of $21.88.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.49). MacroGenics had a negative net margin of 15.42% and a negative return on equity of 88.49%. The firm had revenue of $10.72 million for the quarter, compared to analyst estimates of $25.70 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. On average, sell-side analysts expect that MacroGenics will post -2.7 earnings per share for the current year.

Insider Buying and Selling at MacroGenics

In related news, SVP Ezio Bonvini sold 13,316 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $15.00, for a total transaction of $199,740.00. Following the transaction, the senior vice president now owns 74,668 shares in the company, valued at approximately $1,120,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other MacroGenics news, SVP Ezio Bonvini sold 13,316 shares of MacroGenics stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $15.00, for a total value of $199,740.00. Following the completion of the sale, the senior vice president now directly owns 74,668 shares of the company’s stock, valued at $1,120,020. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Jeffrey Stuart Peters sold 16,124 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $17.22, for a total transaction of $277,655.28. Following the transaction, the vice president now directly owns 8,895 shares in the company, valued at approximately $153,171.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,835 shares of company stock valued at $1,276,588. 11.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MacroGenics

A number of large investors have recently modified their holdings of the company. AJOVista LLC acquired a new position in MacroGenics during the fourth quarter worth $51,000. China Universal Asset Management Co. Ltd. increased its position in shares of MacroGenics by 349.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company’s stock worth $69,000 after acquiring an additional 5,577 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in shares of MacroGenics in the 1st quarter worth about $77,000. SG Americas Securities LLC bought a new position in MacroGenics in the 3rd quarter valued at about $97,000. Finally, Sherbrooke Park Advisers LLC bought a new position in MacroGenics in the 3rd quarter valued at about $99,000. 96.89% of the stock is currently owned by institutional investors.

MacroGenics Company Profile

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.