According to a report from Bloomberg.com, shares of MacroGenics, Inc. (NASDAQ:MGNX) have been given a consensus rating of “Moderate Buy” by eight different ratings firms. Out of these firms, four analysts have recommended holding the stock, while the other four have issued a buy recommendation. Over the past year, brokerages that have provided ratings on the stock have set an average 1-year price target of $12.71.
In addition to this information, it has been reported that Director Edward Hurwitz recently purchased 15,000 shares of MacroGenics’ stock in a transaction that took place on August 30th. The shares were acquired at an average cost of $4.91 per share, resulting in a total transaction value of $73,650. Following this purchase, Hurwitz now owns 33,074 shares of the company’s stock with an estimated value of $162,393.34. Details regarding this transaction can be found in the legal filing with the SEC through a provided hyperlink.
Furthermore, major shareholder Target N. V. Biotech also bought 200,000 shares of MacroGenics’ stock on September 7th at an average price of $5.26 per share. The total value for this transaction amounted to $1,052,000. After completing this purchase, the insider now possesses 9,779,963 shares in the company worth approximately $51,442,605.38.The disclosure for this acquisition can also be found via another provided link.
It is worth noting that insiders currently own 10% percentof MacroGenics’ stock.
Regarding financial performance updates from MacroGenics themselves,the company recently shared its earnings results on August 9th.Of particular interest is the fact that they reported earnings per share (EPS) for the quarter as ($0.36), which exceeded analysts’ consensus estimates by $0.16. The business generated revenue of $13.14 million for the quarter, falling short of the expected $27.06 million.
Macrogenics also reported a net margin of 4.89% and a negative return on equity of 52.98% during this time period.
Analysts predict that MacroGenics will post earnings per share (EPS) of 0.02 for the current year.
Overall, with the consensus rating of “Moderate Buy,” the recent stock purchases by insiders, and their positive EPS beat from last quarter, MacroGenics demonstrates potential promise to investors in the biopharmaceutical industry.
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MacroGenics Receives Positive Ratings and Investments, Indicates Promising Future
On September 22, 2023, MacroGenics, a leading biopharmaceutical company, received positive ratings and price objectives from research firms HC Wainwright and StockNews.com. HC Wainwright reiterated its “buy” rating on MacroGenics’ shares and set a price objective of $14.00, while StockNews.com upgraded the company’s rating from “hold” to “buy.” These assessments indicate a promising future for MacroGenics in the biopharmaceutical industry.
In addition to favorable ratings from research firms, several institutional investors and hedge funds have recently made changes to their positions in MacroGenics. Wells Fargo & Company MN significantly increased its position in the company by 121.0% during the second quarter, acquiring an additional 13,131 shares. This boost demonstrates Wells Fargo’s confidence in MacroGenics’ growth potential.
Woodline Partners LP also joined the group of institutional investors interested in MacroGenics during the second quarter. They acquired a new position valued at approximately $1,951,000. Similarly, Goldman Sachs Group Inc., one of the leading financial institutions globally, raised its stake in MacroGenics by 20.3% during the same period. This investment further solidifies Goldman Sachs’ belief in MacroGenics as a valuable asset.
Captrust Financial Advisors also recognized the potential of MacroGenics during the second quarter when they acquired a new position valued at around $86,000. Additionally, Royal Bank of Canada increased its stake in MacroGenics by 57.1%, demonstrating confidence in the company’s growth prospects.
Currently, approximately 96.89% of MacroGenics’ stock is held by these hedge funds and institutional investors. Their involvement not only reflects their faith in the company but also adds significant support to its overall market presence.
MacroGenics’ stock opened at $4.68 on Friday and has shown some volatility recently. Its fifty-day simple moving average stands at $4.99, while the 200-day simple moving average is slightly higher at $5.74. With a market capitalization of $289.92 million and a price-to-earnings ratio of 39.00, MacroGenics continues to be an intriguing investment opportunity.
Despite its recent fluctuations, it’s worth noting that the company’s beta stands at 2.00, indicating a higher level of volatility compared to the broader market. This may be attributed to various factors influencing the biopharmaceutical industry.
MacroGenics has experienced both highs and lows in the past year, with a 12-month low of $2.93 and a 12-month high of $7.90. These fluctuations are not unique to MacroGenics but rather reflect market conditions and industry trends.
In conclusion, MacroGenics’ recent positive ratings from research firms, coupled with increased investments from institutional investors and hedge funds, suggest growing confidence in the company’s future prospects. However, potential investors should be aware of its stock’s volatility as indicated by its beta value of 2.00. As always, conducting thorough research and analysis is crucial before making any investment decisions in the biopharmaceutical industry or any other sector for that matter
