B. Riley Begins Coverage on MacroGenics (NASDAQ:MGNX)

B. Riley assumed coverage on shares of MacroGenics (NASDAQ:MGNX) in a report released on Friday, MarketBeat.com reports. The firm set a “buy” rating and a $25.00 price target on the biopharmaceutical company’s stock. B. Riley’s price target suggests a potential upside of 73.97% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. JMP Securities restated a “market outperform” rating on shares of MacroGenics in a report on Thursday, April 4th. BTIG Research lifted their target price on MacroGenics from $12.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Barclays boosted their target price on MacroGenics from $12.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. TD Cowen raised MacroGenics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 9th. Finally, TheStreet lowered shares of MacroGenics from a “c” rating to a “d” rating in a research note on Thursday, March 7th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

MacroGenics Stock Performance

Shares of NASDAQ MGNX opened at $14.37 on Friday. MacroGenics has a 1 year low of $4.29 and a 1 year high of $21.88. The stock has a fifty day moving average price of $16.79 and a two-hundred day moving average price of $11.89. The firm has a market cap of $898.99 million, a P/E ratio of -89.81 and a beta of 2.09.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On MacroGenics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC bought a new stake in shares of MacroGenics during the 1st quarter worth $77,000. AJOVista LLC acquired a new stake in shares of MacroGenics during the 4th quarter worth approximately $51,000. China Universal Asset Management Co. Ltd. raised its stake in shares of MacroGenics by 349.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company’s stock valued at $69,000 after purchasing an additional 5,577 shares in the last quarter. Diversified Trust Co boosted its stake in MacroGenics by 16.0% during the first quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock worth $201,000 after buying an additional 1,880 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of MacroGenics during the 4th quarter worth about $135,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

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.