MacroGenics (NASDAQ:MGNX) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of MacroGenics (NASDAQ:MGNX) from a hold rating to a sell rating in a research note published on Thursday morning.

A number of other equities analysts have also commented on the company. Stifel Nicolaus cut their price target on MacroGenics from $6.00 to $5.00 and set a “hold” rating for the company in a report on Wednesday, May 14th. HC Wainwright dropped their price objective on MacroGenics from $4.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. B. Riley lowered their price target on MacroGenics from $5.00 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Barclays restated an “overweight” rating and set a $3.00 price target (down previously from $8.00) on shares of MacroGenics in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.13.

MacroGenics Trading Up 6.0%

Shares of MGNX opened at $1.58 on Thursday. The company has a market capitalization of $99.68 million, a price-to-earnings ratio of -1.00 and a beta of 2.20. The stock has a 50 day moving average of $1.50 and a 200 day moving average of $2.55. MacroGenics has a 12 month low of $0.99 and a 12 month high of $5.77.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.04). MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. The business had revenue of $13.19 million for the quarter, compared to analysts’ expectations of $9.59 million. As a group, equities research analysts predict that MacroGenics will post -1.06 earnings per share for the current year.

Institutional Trading of MacroGenics

Several large investors have recently modified their holdings of the business. Lazard Asset Management LLC purchased a new position in shares of MacroGenics during the 4th quarter worth approximately $32,000. American Century Companies Inc. bought a new position in MacroGenics in the 4th quarter valued at approximately $38,000. Jump Financial LLC bought a new position in MacroGenics in the 4th quarter valued at approximately $44,000. ProShare Advisors LLC raised its stake in MacroGenics by 32.4% during the 4th quarter. ProShare Advisors LLC now owns 20,284 shares of the biopharmaceutical company’s stock valued at $66,000 after buying an additional 4,963 shares during the last quarter. Finally, State of Wyoming purchased a new stake in MacroGenics during the 1st quarter valued at $28,000. 96.89% of the stock is owned by institutional investors.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.