Stocks of MacroGenics Inc. (NASDAQ:MGNX) traded higher last session on Wall Street, down -0.19% to $5.39.
According to the data, MacroGenics Inc. (NASDAQ:MGNX) has 12 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $18.00 and a low of $6.00, we find $12.00. Given the previous closing price of $5.40, this indicates a potential upside of 122.22 percent. MGNX stock price is now -12.22% away from the 50-day moving average and 9.90% away from the 200-day moving average. The market capitalization of the company currently stands at $326.36M.
A total of 3 analysts have issued a hold rating and 8 have given it a buy rating. Brokers who have rated the stock have averaged $11.40 as their price target over the next twelve months.
On November 14, 2022, BMO Capital Markets Upgraded its previous ‘Market Perform’ rating to ‘Outperform’ on the stock increasing its target price from $5.70 to quote $16, while ‘SMBC Nikko’ rates the stock as ‘Neutral’.
In other news, BIOTECH TARGET N V, 10% Owner bought 200,000 shares of the company’s stock on Dec 27. The stock was bought for $1,121,800 at an average price of $5.61. Upon completion of the transaction, the 10% Owner now directly owns 8,929,963 shares in the company, valued at $48.13 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 23, 10% Owner BIOTECH TARGET N V bought 200,000 shares of the business’s stock. A total of $1,176,800 was incurred on buying the stock at an average price of $5.88. This leaves the insider owning 8,729,963 shares of the company worth $47.05 million. Insiders disposed of 1,666 shares of company stock worth roughly $8979.74 over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MGNX stock. A new stake in MacroGenics Inc. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $15,534,000. ECOR1 CAPITAL, LLC invested $5,018,000 in shares of MGNX during the first quarter. In the first quarter, FRAZIER LIFE SCIENCES MANAGEMENT, L.P. acquired a new stake in MacroGenics Inc. valued at approximately $3,782,000. PRUDENTIAL FINANCIAL INC acquired a new stake in MGNX for approximately $620,000. SILVERARC CAPITAL MANAGEMENT, LLC purchased a new stake in MGNX valued at around $539,000 in the second quarter. In total, there are 205 active investors with 94.50% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $5.38 for MacroGenics Inc. (NASDAQ: MGNX). During the past 12 months, MacroGenics Inc. has had a low of $2.13 and a high of $14.16. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 3.00, and a quick ratio of 2.90. The fifty day moving average price for MGNX is $6.14 and a two-hundred day moving average price translates $4.90 for the stock.
The latest earnings results from MacroGenics Inc. (NASDAQ: MGNX) was released for Jun, 2022. According to the Biotechnology Company, earnings per share came in at -$0.67, beating analysts’ expectations of -$0.97 by 0.3. This compares to -$0.86 EPS in the same period last year. The company reported revenue of $41.73 million for the quarter, compared to $15.66 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 166.47 percent. For the current quarter, analysts expect MGNX to generate $33.83M in revenue.
MacroGenics Inc.(MGNX) Company Profile
MacroGenics, Inc., a biopharmaceutical company, develops 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. The company’s pipeline of immuno-oncology product candidates includes MGC018, an antibody drug conjugate (ADC), which targets solid tumors expressing B7-H3; Enoblituzumab, a monoclonal antibody that targets B7-H3; and MGD024, an investigational bispecific CD123 × CD3 DART molecule to minimize cytokine-release syndrome for patients with hematologic malignancies. It also develops Lorigerlimab, a monoclonal antibody that targets the immune checkpoints PD-1 and cytotoxic T-lymphocyte-associated protein 4; Tebotelimab, an investigational tetravalent DART molecule for PD-1 and lymphocyte-activation gene 3; Retifanlimab, an investigational monoclonal antibody targeting metastatic squamous cell carcinoma of the anal canal and metastatic non-small cell lung cancer; and IMGC936, an ADC that targets ADAM9, a cell surface protein over-expressed in various solid tumor types. Further, the company develops MGD014 and MGD020, a DART molecule to target the envelope protein of human immunodeficiency virus infected cells and CD3 on T cells; Teplizumab for the treatment of type 1 diabetes; and PRV-3279, a CD32B × CD79B DART molecule for the treatment of autoimmune indications. It has collaborations with Incyte Corporation; Zai Lab Limited; I-Mab Biopharma; and Janssen Biotech, Inc. The company was incorporated in 2000 and is headquartered in Rockville, Maryland.