MacroGenics (MGNX) Stock Rating Lowered by ValuEngine

ValuEngine cut shares of MacroGenics (NASDAQ:MGNX) from a buy rating to a hold rating in a research report released on Monday morning, ValuEngine reports.

MGNX has been the topic of several other research reports. Raymond James reiterated a sell rating on shares of MacroGenics in a report on Monday, January 21st. Citigroup upgraded shares of MacroGenics from a sell rating to a buy rating and upped their price objective for the company from $10.00 to $39.00 in a report on Thursday, February 7th. HC Wainwright reiterated a buy rating and set a $39.00 price objective (up previously from $34.00) on shares of MacroGenics in a report on Wednesday, February 6th. Nomura upped their price objective on shares of MacroGenics from $41.00 to $50.00 and gave the company a buy rating in a report on Thursday, February 7th. Finally, Wedbush lowered shares of MacroGenics from an outperform rating to a neutral rating in a report on Thursday, February 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $32.07.

Shares of NASDAQ MGNX opened at $16.53 on Monday. MacroGenics has a 1-year low of $9.87 and a 1-year high of $32.32. The stock has a market cap of $793.09 million, a PE ratio of -3.95 and a beta of 2.90. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 0.08.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) earnings per share for the quarter, missing the 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 for the quarter, compared to analyst estimates of $11.46 million. Equities analysts anticipate that MacroGenics will post -3.76 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace North America L.P. acquired a new stake in shares of MacroGenics in the 1st quarter worth about $59,000. Pearl River Capital LLC bought a new stake in MacroGenics in the 1st quarter worth about $74,000. NumerixS Investment Technologies Inc bought a new stake in MacroGenics in the 1st quarter worth about $74,000. Marshall Wace LLP bought a new stake in MacroGenics in the 1st quarter worth about $80,000. Finally, Bank of Montreal Can grew its position in MacroGenics by 804.2% in the 1st quarter. Bank of Montreal Can now owns 5,000 shares of the biopharmaceutical company’s stock worth $90,000 after purchasing an additional 4,447 shares in the last quarter. Institutional investors own 76.23% of the company’s stock.

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.

Read More: What are the economic characteristics of a bear market?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

Receive News & Ratings for MacroGenics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MacroGenics and related companies with's FREE daily email newsletter.