BidaskClub lowered shares of MacroGenics (NASDAQ:MGNX) from a sell rating to a strong sell rating in a report published on Friday morning.
A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research raised shares of MacroGenics from a hold rating to a strong-buy rating and set a $23.00 price target on the stock in a report on Wednesday. ValuEngine raised shares of MacroGenics from a hold rating to a buy rating in a report on Thursday, September 13th. BTIG Research began coverage on shares of MacroGenics in a report on Monday, September 10th. They issued a buy rating and a $30.00 price target on the stock. Cowen reissued a buy rating on shares of MacroGenics in a report on Wednesday, August 8th. Finally, HC Wainwright reissued a buy rating and issued a $34.00 price target on shares of MacroGenics in a report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. MacroGenics currently has an average rating of Buy and an average price target of $30.38.
Shares of MacroGenics stock traded up $0.33 on Friday, reaching $18.91. The stock had a trading volume of 197,786 shares, compared to its average volume of 303,774. MacroGenics has a 1 year low of $16.12 and a 1 year high of $32.74. The company has a market cap of $905.57 million, a price-to-earnings ratio of -35.02 and a beta of 2.41.
MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.17. MacroGenics had a negative net margin of 19.20% and a negative return on equity of 13.01%. The firm had revenue of $18.83 million for the quarter, compared to the consensus estimate of $4.41 million. As a group, equities research analysts expect that MacroGenics will post -4.77 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in MGNX. SG Americas Securities LLC purchased a new stake in MacroGenics in the first quarter valued at approximately $119,000. Sun Life Financial INC purchased a new stake in MacroGenics in the second quarter valued at approximately $168,000. Algert Global LLC purchased a new stake in MacroGenics in the second quarter valued at approximately $203,000. Metropolitan Life Insurance Co. NY raised its stake in MacroGenics by 33.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 13,178 shares of the biopharmaceutical company’s stock valued at $272,000 after purchasing an additional 3,323 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in MacroGenics in the second quarter valued at approximately $316,000. 92.84% of the stock is currently owned by institutional investors and hedge funds.
MacroGenics Company Profile
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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