MacroGenics (NASDAQ:MGNX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MacroGenics (NASDAQ:MGNX) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other equities analysts have also recently commented on MGNX. B. Riley cut their target price on shares of MacroGenics from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, May 20th. Stifel Nicolaus decreased their target price on shares of MacroGenics from $6.00 to $5.00 and set a “hold” rating on the stock in a research report on Wednesday, May 14th. HC Wainwright decreased their target price on shares of MacroGenics from $4.00 to $2.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Finally, Barclays restated an “overweight” rating and set a $3.00 target price (down from $8.00) on shares of MacroGenics in a research report on Wednesday, May 14th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.71.

MacroGenics Price Performance

Shares of MacroGenics stock opened at $1.64 on Friday. The firm’s fifty day simple moving average is $1.46 and its 200-day simple moving average is $2.34. The stock has a market capitalization of $103.47 million, a price-to-earnings ratio of -1.04 and a beta of 1.65. MacroGenics has a 12 month low of $0.99 and a 12 month high of $5.77.

MacroGenics (NASDAQ:MGNX) last announced its 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). The business had revenue of $13.19 million during the quarter, compared to analyst estimates of $9.59 million. MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. Analysts anticipate that MacroGenics will post -1.06 earnings per share for the current year.

Institutional Investors Weigh In On MacroGenics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Armistice Capital LLC boosted its position in shares of MacroGenics by 0.3% in the 1st quarter. Armistice Capital LLC now owns 6,296,000 shares of the biopharmaceutical company’s stock worth $7,996,000 after buying an additional 20,000 shares in the last quarter. Wasatch Advisors LP boosted its position in shares of MacroGenics by 37.6% in the 4th quarter. Wasatch Advisors LP now owns 3,488,493 shares of the biopharmaceutical company’s stock worth $11,338,000 after buying an additional 952,691 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its position in shares of MacroGenics by 5.5% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,175,665 shares of the biopharmaceutical company’s stock worth $10,321,000 after buying an additional 164,938 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of MacroGenics by 78.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,308,649 shares of the biopharmaceutical company’s stock worth $2,923,000 after buying an additional 1,017,726 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of MacroGenics by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 1,433,217 shares of the biopharmaceutical company’s stock worth $4,659,000 after buying an additional 26,341 shares in the last quarter. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

MacroGenics Company Profile

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.