MacroGenics Inc (NASDAQ:MGNX) posted its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($1.00) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.86) by $0.14. The company earned $5 million during the quarter, compared to the consensus estimate of $10.65 million. MacroGenics had a negative net margin of 55.01% and a negative return on equity of 16.99%. The business’s revenue for the quarter was down 37.5% compared to the same quarter last year.
Shares of MacroGenics (NASDAQ:MGNX) traded up 4.71% during trading on Friday, hitting $18.02. The stock had a trading volume of 183,959 shares. The firm’s 50 day moving average is $19.46 and its 200 day moving average is $23.52. MacroGenics has a 1-year low of $16.28 and a 1-year high of $33.30. The company’s market cap is $630.23 million.
Several research analysts have recently commented on MGNX shares. Citigroup Inc reduced their target price on MacroGenics from $32.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, January 25th. SunTrust Banks, Inc. started coverage on MacroGenics in a research note on Monday, December 19th. They set a “buy” rating and a $30.00 target price for the company. Zacks Investment Research downgraded MacroGenics from a “hold” rating to a “sell” rating in a research note on Wednesday, January 11th. Nomura started coverage on MacroGenics in a research note on Wednesday, March 1st. They set a “buy” rating for the company. Finally, Instinet started coverage on MacroGenics in a research note on Wednesday, March 1st. They set a “buy” rating and a $41.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. MacroGenics has an average rating of “Buy” and an average target price of $36.30.
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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Interwest Venture Management Co. bought a new position in shares of MacroGenics during the fourth quarter worth about $21,959,000. BB Biotech AG boosted its position 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 worth $43,519,000 after buying an additional 935,000 shares during the period. Baker BROS. Advisors LP bought a new position in shares of MacroGenics during the third quarter worth about $10,878,000. FMR LLC boosted its position in shares of MacroGenics by 5.0% in the fourth quarter. FMR LLC now owns 5,225,358 shares of the biopharmaceutical company’s stock worth $106,806,000 after buying an additional 249,531 shares during the period. Finally, Point72 Asset Management L.P. boosted its position 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 worth $68,957,000 after buying an additional 224,700 shares during the period. 81.68% of the stock is currently owned by hedge funds and other institutional investors.
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.
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