SVB Leerink cuts MacroGenics (NASDAQ:MGNX) price target to $12.00

MacroGenics (NASDAQ:MGNX – Get Rating) saw its price target lowered by research analysts SVB Leerink from $15.00 to $12.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on shares of the biopharmaceutical company. SVB Leerink’s price target suggests upside potential of 137.62% from the stock’s previous close.

A number of other brokerages also weighed in on MGNX. BTIG Research set a target price of $6.00 on MacroGenics shares in a Tuesday, July 19 research report. Barclays cut its price target on MacroGenics shares from $18.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday. Guggenheim downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating in a Wednesday, May 4 research report. JMP Securities cut its price target on MacroGenics shares from $24.00 to $20.00 and set a “market outperformance” rating for the company in a Tuesday, July 12 research report. Finally, BMO Capital Markets downgraded MacroGenics shares from an “outperforming” rating to a “market performing” rating and reduced its target price for the stock from $31.00 to $4.00 in a Monday, July 11 research report. One financial analyst has assigned the stock a sell rating, three have assigned a hold rating and five have assigned the stock a buy rating. According to MarketBeat, MacroGenics currently has an average rating of “Hold” and an average target price of $15.67.

MacroGenics stock up 11.0%

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MGNX was up $0.50 during Tuesday’s trading, hitting $5.05. 32,393 shares of the company were traded, against an average volume of 1,196,044. The company has a market capitalization of $309.72 million, a P/E ratio of -1.42 and a beta of 2.08 . The stock’s fifty-day moving average is $3.32 and its 200-day moving average is $6.61. MacroGenics has a 1-year low of $2.13 and a 1-year high of $28.09.

Insider activity

Separately, CFO James Karrels bought 40,000 shares in a trade that took place on Wednesday June 15. The shares were acquired at an average cost of $2.47 per share, with a total value of $98,800.00. Following the completion of the purchase, the CFO now directly owns 191,776 shares of the company, valued at approximately $473,686.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. 7.90% of the shares are held by insiders of the company.

Institutional entries and exits

Several hedge funds have recently changed their positions in the company. ProShare Advisors LLC increased its holdings in MacroGenics by 4.7% in the fourth quarter. ProShare Advisors LLC now owns 21,718 shares of the biopharmaceutical company valued at $348,000 after acquiring 972 additional shares last quarter. The Swiss National Bank increased its holdings in MacroGenics by 1.4% in the fourth quarter. The Swiss National Bank now owns 107,600 shares of the biopharmaceutical company valued at $1,727,000 after acquiring an additional 1,500 shares last quarter. DekaBank Deutsche Girozentrale increased its holdings in MacroGenics by 10.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 18,300 shares of the biopharmaceutical company valued at $162,000 after acquiring an additional 1,700 shares last quarter. Nisa Investment Advisors LLC increased its stake in MacroGenics by 46.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,079 shares of the biopharmaceutical company valued at $75,000 after acquiring 1,929 additional shares last quarter. Finally, Principal Financial Group Inc. increased its holdings of MacroGenics shares by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 259,279 shares of the biopharmaceutical company valued at $4,161,000 after buying 2,441 additional shares last quarter.

MacroGenics Company Profile

(Get a rating)

MacroGenics, Inc, a biopharmaceutical company, develops and commercializes antibody-based therapies to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with HER2-positive metastatic breast cancer who have received at least two prior anti-HER2 regimens.

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