ValuEngine Lowers MacroGenics (MGNX) to Hold

ValuEngine downgraded shares of MacroGenics (NASDAQ:MGNX) from a buy rating to a hold rating in a report issued on Tuesday, December 18th.

Other equities research analysts also recently issued reports about the stock. HC Wainwright set a $34.00 price target on shares of MacroGenics and gave the company a buy rating in a research report on Wednesday, December 5th. Zacks Investment Research upgraded shares of MacroGenics from a hold rating to a buy rating and set a $19.00 price target for the company in a research report on Tuesday, November 13th. BTIG Research assumed coverage on shares of MacroGenics in a research report on Monday, September 10th. They set a buy rating and a $30.00 price target for the company. Morgan Stanley set a $21.00 price target on shares of MacroGenics and gave the company a hold rating in a research report on Monday, December 10th. Finally, BidaskClub upgraded shares of MacroGenics from a strong sell rating to a sell rating in a research report on Friday, October 19th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $30.29.

MGNX traded up $0.44 during trading on Tuesday, reaching $14.30. The company’s stock had a trading volume of 580,883 shares, compared to its average volume of 545,685. MacroGenics has a 52-week low of $11.16 and a 52-week high of $32.74. The firm has a market capitalization of $584.44 million, a PE ratio of -26.48 and a beta of 2.55.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.29) by $0.48. MacroGenics had a negative return on equity of 7.39% and a negative net margin of 10.72%. The company had revenue of $20.80 million for the quarter, compared to analyst estimates of $6.18 million. On average, equities analysts predict that MacroGenics will post -4.18 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the stock. OppenheimerFunds Inc. raised its position in shares of MacroGenics by 4.1% during the 2nd quarter. OppenheimerFunds Inc. now owns 4,109,540 shares of the biopharmaceutical company’s stock worth $84,862,000 after purchasing an additional 160,170 shares during the last quarter. BlackRock Inc. raised its holdings in MacroGenics by 3.3% in the 3rd quarter. BlackRock Inc. now owns 3,225,256 shares of the biopharmaceutical company’s stock valued at $69,150,000 after acquiring an additional 103,189 shares during the last quarter. BB Biotech AG raised its holdings in MacroGenics by 12.4% in the 3rd quarter. BB Biotech AG now owns 2,990,412 shares of the biopharmaceutical company’s stock valued at $64,114,000 after acquiring an additional 330,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in MacroGenics by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,270,541 shares of the biopharmaceutical company’s stock valued at $48,680,000 after acquiring an additional 165,937 shares during the last quarter. Finally, Vanguard Group Inc raised its holdings in MacroGenics by 7.9% in the 3rd quarter. Vanguard Group Inc now owns 2,270,541 shares of the biopharmaceutical company’s stock valued at $48,680,000 after acquiring an additional 165,937 shares during the last quarter. Hedge funds and other institutional investors own 86.97% of the company’s stock.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, and 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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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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