MacroGenics (NASDAQ:MGNX) Rating Increased to Hold at StockNews.com

MacroGenics (NASDAQ:MGNX) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

A number of other equities research analysts also recently issued reports on MGNX. Evercore ISI upgraded MacroGenics to a “strong-buy” rating in a research report on Monday, September 16th. BTIG Research lowered MacroGenics from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. B. Riley cut shares of MacroGenics from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $5.00 in a research report on Wednesday, July 31st. Barclays decreased their price objective on MacroGenics from $14.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. Finally, Citigroup cut their target price on MacroGenics from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Eight analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.11.

MacroGenics Price Performance

MGNX opened at $3.49 on Friday. MacroGenics has a fifty-two week low of $2.95 and a fifty-two week high of $21.88. The company’s 50-day moving average is $3.54 and its 200 day moving average is $5.86. The firm has a market capitalization of $218.89 million, a P/E ratio of -1.59 and a beta of 2.08.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.42). The firm had revenue of $10.80 million for the quarter, compared to the consensus estimate of $24.14 million. MacroGenics had a negative return on equity of 146.01% and a negative net margin of 332.47%. On average, equities research analysts expect that MacroGenics will post -1.72 earnings per share for the current year.

Institutional Trading of MacroGenics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new stake in MacroGenics during the first quarter worth about $40,000. China Universal Asset Management Co. Ltd. grew its stake in shares of MacroGenics by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 4,707 shares during the period. CANADA LIFE ASSURANCE Co acquired a new stake in MacroGenics during the first quarter worth $52,000. SG Americas Securities LLC purchased a new stake in MacroGenics in the 3rd quarter valued at about $55,000. Finally, DRW Securities LLC acquired a new position in shares of MacroGenics in the 2nd quarter worth approximately $56,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

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.