Zacks Investment Research upgraded shares of MacroGenics, Inc. (NASDAQ:MGNX) from a sell rating to a hold rating in a report issued on Tuesday.
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 analysts have also weighed in on the company. Stifel Nicolaus reissued a buy rating and set a $34.00 price objective on shares of MacroGenics in a research note on Tuesday, September 12th. SunTrust Banks, Inc. reaffirmed a buy rating and issued a $26.00 price target on shares of MacroGenics in a research note on Friday, September 1st. ValuEngine raised MacroGenics from a strong sell rating to a sell rating in a research note on Friday, September 1st. BidaskClub lowered MacroGenics from a hold rating to a sell rating in a research note on Monday, July 31st. Finally, Wedbush reaffirmed an outperform rating and issued a $44.00 price target on shares of MacroGenics in a research note on Monday, September 11th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $30.30.
MacroGenics (NASDAQ:MGNX) traded down 0.57% during trading on Tuesday, reaching $17.42. 29,330 shares of the company were exchanged. MacroGenics has a one year low of $14.36 and a one year high of $31.85. The firm’s 50 day moving average price is $17.79 and its 200-day moving average price is $18.17. The stock’s market capitalization is $641.02 million.
MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.09). The company had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $15.82 million. MacroGenics had a negative net margin of 1,216.51% and a negative return on equity of 56.81%. The business’s revenue for the quarter was down 97.9% compared to the same quarter last year. During the same period last year, the company posted $1.12 EPS. On average, equities research analysts predict that MacroGenics will post ($4.42) earnings per share for the current year.
Hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new stake in MacroGenics in the second quarter worth $133,000. Legal & General Group Plc lifted its stake in MacroGenics by 4.3% in the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock worth $138,000 after acquiring an additional 328 shares during the period. SG Americas Securities LLC lifted its stake in MacroGenics by 92.2% in the second quarter. SG Americas Securities LLC now owns 10,812 shares of the biopharmaceutical company’s stock worth $189,000 after acquiring an additional 5,187 shares during the period. Parametric Portfolio Associates LLC purchased a new stake in MacroGenics in the second quarter worth $203,000. Finally, Virtu KCG Holdings LLC purchased a new stake in MacroGenics in the second quarter worth $232,000. 84.47% of the stock is owned by institutional investors.
MacroGenics Company Profile
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.
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