Trade Report: Today, MacroGenics Inc. (MGNX) Stock Rating Reaffirm by BTIG Research

Today, MacroGenics Inc. (MGNX) Stock Rating Reaffirm by BTIG Research

MacroGenics Inc. (NASDAQ:MGNX)‘s stock had its “buy” rating reissued by research analysts at BTIG Research in a research report issued to clients and investors on Monday. They presently have a $35.00 target price on the biopharmaceutical company’s stock. BTIG Research’s target price suggests a potential upside of 24.42% from the company’s current price.

MGNX has been the topic of a number of other research reports. Wedbush reaffirmed an “outperform” rating and set a $52.00 price target on shares of MacroGenics in a report on Thursday, November 3rd. Zacks Investment Research cut MacroGenics from a “buy” rating to a “hold” rating in a report on Friday, November 4th. Cowen and Company began coverage on MacroGenics in a report on Wednesday, September 7th. They set an “outperform” rating on the stock. Citigroup Inc. cut MacroGenics from a “buy” rating to a “neutral” rating and lifted their price target for the company from $27.00 to $32.00 in a report on Thursday, August 4th. Finally, TheStreet raised MacroGenics from a “sell” rating to a “hold” rating in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $36.57.

Shares of MacroGenics (NASDAQ:MGNX) traded up 0.79% during midday trading on Monday, reaching $28.13. The company’s stock had a trading volume of 105,601 shares. MacroGenics has a 12 month low of $14.84 and a 12 month high of $36.11. The stock’s market capitalization is $979.91 million. The stock’s 50 day moving average is $26.14 and its 200 day moving average is $27.31.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings results on Wednesday, November 2nd. The biopharmaceutical company reported ($0.97) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.80) by $0.17. The business had revenue of $3.30 million for the quarter, compared to the consensus estimate of $12.45 million. MacroGenics had a negative net margin of 55.01% and a negative return on equity of 16.99%. The business’s quarterly revenue was down 77.6% on a year-over-year basis. During the same period last year, the firm posted ($0.46) EPS. On average, analysts forecast that MacroGenics will post ($1.57) EPS for the current fiscal year.

In related news, CMO Jon Marc Wigginton sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $29.34, for a total transaction of $293,400.00. Following the sale, the chief marketing officer now owns 10,000 shares of the company’s stock, valued at $293,400. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Lynn Cilinski sold 6,231 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $29.28, for a total value of $182,443.68. Following the sale, the vice president now directly owns 8,154 shares in the company, valued at approximately $238,749.12. The disclosure for this sale can be found here. Corporate insiders own 6.78% of the company’s stock.

Large investors have recently made changes to their positions in the company. FMR LLC boosted its stake in shares of MacroGenics by 40.6% in the second quarter. FMR LLC now owns 4,977,997 shares of the biopharmaceutical company’s stock valued at $134,356,000 after buying an additional 1,438,175 shares during the last quarter. BB Biotech AG boosted its stake in shares of MacroGenics by 179.8% in the third quarter. BB Biotech AG now owns 1,455,000 shares of the biopharmaceutical company’s stock valued at $43,519,000 after buying an additional 935,000 shares during the last quarter. Baker BROS. Advisors LP purchased a new stake in shares of MacroGenics during the third quarter valued at approximately $10,878,000. Point72 Asset Management L.P. boosted its stake in shares of MacroGenics by 9.6% in the second quarter. Point72 Asset Management L.P. now owns 2,554,900 shares of the biopharmaceutical company’s stock valued at $68,957,000 after buying an additional 224,700 shares during the last quarter. Finally, Cormorant Asset Management LLC boosted its stake in shares of MacroGenics by 40.0% in the first quarter. Cormorant Asset Management LLC now owns 700,000 shares of the biopharmaceutical company’s stock valued at $13,125,000 after buying an additional 200,000 shares during the last quarter. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

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