Citigroup Maintains MacroGenics Inc to Neutral with Price Target $32.00

Brokerage firm Citigroup Maintains its rating on MacroGenics Inc(NASDAQ:MGNX). In a research note issued to the investors, the brokerage major Raises the price-target to $32.00 per share. The shares have been rated Neutral. The rating by Citigroup was issued on Aug 5, 2016.

In a different note, On Aug 4, 2016, Citigroup said it Downgrades its rating on MacroGenics Inc. In the research note, the firm Raises the price-target to $27.00 per share. The shares have been rated ‘Neutral’ by the firm.

MacroGenics Inc (MGNX) shares turned negative on Wednesdays trading session with the shares closing down -0.62 points or -1.97% at a volume of 1,84,565. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $31.51. The peak price level was also seen at $31.51 while the days lowest was $30.535. Finally the shares closed at $30.9. The 52-week high of the shares is $36.11 while the 52-week low is $14.84. According to the latest information available, the market cap of the company is $1,073 M.

MacroGenics Inc(MGNX) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $80.67M. Analysts had an estimated revenue of $27.22M. Earnings per share were $1.12. Analysts had estimated an EPS of $-0.02.

Several Insider Transactions has been reported to the SEC. On Aug 3, 2016, Jon Marc Wigginton (Sr VP Clinical Dev & CMO) sold 20,000 shares at $30.78 per share price.Also, On Jul 6, 2016, Lynn Cilinski (VP, Controller and Treasurer) sold 8,922 shares at $27.22 per share price.On Mar 4, 2016, Paulo F Costa (director) purchased 10,000 shares at $17.20 per share price, according to the Form-4 filing with the securities and exchange commission.

MacroGenics Inc. is a biopharmaceutical company focused on discovering and developing antibody-based therapeutics for the treatment of cancer as well as various autoimmune disorders and infectious diseases. The Company develops new therapeutic product candidates using its antibody-based technology platforms and also in partnership with other biopharmaceutical companies. The Company has a pipeline of product candidates in human clinical testing primarily against various cancers. These include two product candidates developed using Fc Optimization platform namely margetuximab an antibody for the treatment of certain types of metastatic breast cancers and gastroesophageal cancers and MGA271 an antibody to impact various tumors through multiple potential mechanisms of action. In addition the Company has created different product candidates based on Dual-Affinity Re-Targetingr (DART) platform.

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