Zacks Investment Research Lowers MacroGenics (NASDAQ:MGNX) to Sell

Zacks Investment Research cut shares of MacroGenics (NASDAQ:MGNX) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “MacroGenics Inc. is a biopharmaceutical company. It is focused on discovering and developing innovative monoclonal antibody-based therapeutics. The Company has a diverse portfolio of product candidates focused in three therapeutic areas: oncology, autoimmune disorders and infectious diseases. MacroGenics Inc. is headquartered in Rockville, Maryland. “

A number of other equities analysts also recently commented on MGNX. HC Wainwright restated a neutral rating on shares of Syros Pharmaceuticals in a research note on Thursday, May 2nd. ValuEngine downgraded Intersect ENT from a buy rating to a hold rating in a research note on Monday. Stifel Nicolaus decreased their target price on MacroGenics from $36.00 to $29.00 and set a buy rating for the company in a research note on Wednesday, June 5th. Morgan Stanley restated a top pick rating on shares of in a research note on Wednesday, June 5th. Finally, BidaskClub downgraded Extraction Oil & Gas from a hold rating to a sell rating in a research note on Saturday, May 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. MacroGenics currently has a consensus rating of Hold and a consensus price target of $31.62.

MGNX stock traded down $0.30 during midday trading on Wednesday, reaching $15.79. The company had a trading volume of 523,600 shares, compared to its average volume of 1,114,320. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.47 and a quick ratio of 6.47. The stock’s 50 day moving average price is $16.63. MacroGenics has a fifty-two week low of $9.87 and a fifty-two week high of $32.32. The stock has a market cap of $788.71 million, a price-to-earnings ratio of -3.77 and a beta of 2.38.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.95) by ($0.04). MacroGenics had a negative net margin of 256.47% and a negative return on equity of 57.65%. The company had revenue of $9.66 million during the quarter, compared to analyst estimates of $11.46 million. As a group, analysts anticipate that MacroGenics will post -3.75 EPS for the current fiscal year.

In other news, SVP Eric Blasius Risser sold 3,000 shares of MacroGenics stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $18.38, for a total transaction of $55,140.00. Following the sale, the senior vice president now owns 33,806 shares of the company’s stock, valued at $621,354.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 7.88% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. bought a new stake in shares of MacroGenics during the first quarter valued at approximately $59,000. Acadian Asset Management LLC bought a new stake in shares of MacroGenics during the fourth quarter valued at approximately $65,000. Pearl River Capital LLC bought a new stake in shares of MacroGenics during the first quarter valued at approximately $74,000. Great West Life Assurance Co. Can raised its holdings in shares of MacroGenics by 148.6% during the fourth quarter. Great West Life Assurance Co. Can now owns 6,215 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 3,715 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of MacroGenics during the first quarter valued at approximately $80,000. 90.52% of the stock is currently owned by institutional investors.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.

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