BidaskClub lowered shares of MacroGenics (NASDAQ:MGNX) from a buy rating to a hold rating in a research report released on Wednesday morning.
Other research analysts also recently issued research reports about the company. HC Wainwright initiated coverage on MacroGenics in a research note on Monday, March 5th. They issued a buy rating and a $38.00 price objective for the company. Cowen restated a buy rating on shares of MacroGenics in a research note on Wednesday, January 24th. SunTrust Banks restated a buy rating and issued a $31.00 price objective on shares of MacroGenics in a research note on Tuesday, January 23rd. BTIG Research restated a buy rating and issued a $28.00 price objective on shares of MacroGenics in a research note on Tuesday, January 23rd. Finally, Raymond James Financial restated a buy rating on shares of MacroGenics in a research note on Monday, December 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The stock has an average rating of Buy and an average target price of $30.25.
Shares of NASDAQ:MGNX opened at $22.59 on Wednesday. MacroGenics has a 1 year low of $14.36 and a 1 year high of $32.74.
MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.22. The firm had revenue of $152.36 million during the quarter, compared to the consensus estimate of $152.59 million. MacroGenics had a negative return on equity of 8.22% and a negative net margin of 12.44%. equities analysts anticipate that MacroGenics will post -4.5 EPS for the current fiscal year.
In other news, SVP Eric Blasius Risser sold 1,000 shares of the stock in a transaction on Monday, March 12th. The stock was sold at an average price of $31.08, for a total transaction of $31,080.00. Following the completion of the transaction, the senior vice president now owns 10,100 shares in the company, valued at approximately $313,908. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jon Marc Wigginton sold 5,000 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $20.00, for a total value of $100,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 42,967 shares of company stock valued at $1,098,005 in the last quarter. 8.30% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in MacroGenics by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 298,159 shares of the biopharmaceutical company’s stock worth $5,665,000 after purchasing an additional 2,472 shares during the period. Wells Fargo & Company MN boosted its stake in MacroGenics by 11.5% in the 3rd quarter. Wells Fargo & Company MN now owns 27,714 shares of the biopharmaceutical company’s stock worth $513,000 after purchasing an additional 2,862 shares during the period. Goldman Sachs Group Inc. boosted its stake in MacroGenics by 6.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 65,108 shares of the biopharmaceutical company’s stock worth $1,237,000 after purchasing an additional 3,841 shares during the period. Swiss National Bank boosted its stake in MacroGenics by 8.0% in the 4th quarter. Swiss National Bank now owns 59,600 shares of the biopharmaceutical company’s stock worth $1,132,000 after purchasing an additional 4,400 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in MacroGenics by 3.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 175,106 shares of the biopharmaceutical company’s stock worth $3,328,000 after purchasing an additional 6,118 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.
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MacroGenics, Inc, a biopharmaceutical company, focuses on the discovery and development of antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, as well as various autoimmune disorders and infectious diseases in the United States. The company's advanced clinical product candidate is Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets human epidermal growth factor receptor 2-expressing tumors, such as various breast and gastroesophageal cancers.
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