BidaskClub upgraded shares of MacroGenics (NASDAQ:MGNX) from a strong sell rating to a sell rating in a research report report published on Friday morning.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of MacroGenics from a buy rating to a hold rating in a research note on Wednesday, October 17th. ValuEngine raised shares of MacroGenics from a hold rating to a buy rating in a research note on Thursday, September 13th. BTIG Research assumed coverage on shares of MacroGenics in a research note on Monday, September 10th. They set a buy rating and a $30.00 target price on the stock. Cowen reaffirmed a buy rating on shares of MacroGenics in a research note on Wednesday, August 8th. Finally, HC Wainwright reaffirmed a buy rating and set a $34.00 target price on shares of MacroGenics in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $30.38.
NASDAQ MGNX opened at $18.13 on Friday. The firm has a market cap of $791.53 million, a price-to-earnings ratio of -33.57 and a beta of 2.41. MacroGenics has a fifty-two week low of $16.12 and a fifty-two week high of $32.74.
MacroGenics (NASDAQ:MGNX) last posted its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($1.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.17. The firm had revenue of $18.83 million for the quarter, compared to analysts’ expectations of $4.41 million. MacroGenics had a negative net margin of 19.20% and a negative return on equity of 13.01%. On average, sell-side analysts expect that MacroGenics will post -4.66 EPS for the current year.
Several large investors have recently modified their holdings of MGNX. JPMorgan Chase & Co. lifted its holdings in shares of MacroGenics by 23.7% during the first quarter. JPMorgan Chase & Co. now owns 32,262 shares of the biopharmaceutical company’s stock worth $812,000 after purchasing an additional 6,178 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of MacroGenics by 64.4% during the first quarter. Russell Investments Group Ltd. now owns 16,600 shares of the biopharmaceutical company’s stock worth $418,000 after purchasing an additional 6,500 shares during the period. Stifel Financial Corp lifted its holdings in shares of MacroGenics by 18.1% during the first quarter. Stifel Financial Corp now owns 19,766 shares of the biopharmaceutical company’s stock worth $500,000 after purchasing an additional 3,033 shares during the period. GSA Capital Partners LLP acquired a new position in shares of MacroGenics during the first quarter worth $481,000. Finally, Allianz Asset Management GmbH lifted its holdings in shares of MacroGenics by 32.8% during the first quarter. Allianz Asset Management GmbH now owns 68,944 shares of the biopharmaceutical company’s stock worth $1,735,000 after purchasing an additional 17,010 shares during the period. Institutional investors own 90.99% of the company’s stock.
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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