MacroGenics (NASDAQ:MGNX) Stock Rating Lowered by BMO Capital Markets

MacroGenics (NASDAQ:MGNXGet Free Report) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued on Friday, Marketbeat Ratings reports. They presently have a $8.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $24.00. BMO Capital Markets’ price target would suggest a potential upside of 141.69% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. JMP Securities reiterated a “market outperform” rating on shares of MacroGenics in a research note on Thursday, April 4th. TD Cowen lowered shares of MacroGenics from a “buy” rating to a “hold” rating in a research note on Friday. TheStreet lowered MacroGenics from a “c” rating to a “d” rating in a report on Thursday, March 7th. B. Riley started coverage on MacroGenics in a research report on Friday, April 26th. They issued a “buy” rating and a $25.00 target price for the company. Finally, Barclays upped their price target on MacroGenics from $12.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.78.

View Our Latest Stock Analysis on MacroGenics

MacroGenics Trading Down 77.4 %

NASDAQ:MGNX opened at $3.31 on Friday. MacroGenics has a 52 week low of $3.14 and a 52 week high of $21.88. The firm has a 50-day moving average price of $16.00 and a two-hundred day moving average price of $12.66.

MacroGenics (NASDAQ:MGNXGet Free Report) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.17). The business had revenue of $9.10 million during the quarter, compared to the consensus estimate of $13.63 million. MacroGenics had a negative net margin of 53.60% and a negative return on equity of 88.57%. Equities analysts forecast that MacroGenics will post -2.79 earnings per share for the current year.

Insider Transactions at MacroGenics

In other news, VP Jeffrey Stuart Peters sold 16,124 shares of MacroGenics stock in a transaction on Monday, February 26th. The shares were sold at an average price of $17.22, for a total transaction of $277,655.28. Following the completion of the sale, the vice president now directly owns 8,895 shares of the company’s stock, valued at approximately $153,171.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.30% of the company’s stock.

Institutional Trading of MacroGenics

Hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC raised its stake in shares of MacroGenics by 8.9% during the first quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock worth $225,000 after acquiring an additional 1,246 shares in the last quarter. Diversified Trust Co grew its holdings in shares of MacroGenics by 16.0% during the 1st quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock valued at $201,000 after purchasing an additional 1,880 shares during the last quarter. Principal Financial Group Inc. raised its position in MacroGenics by 0.9% in the 3rd quarter. Principal Financial Group Inc. now owns 275,550 shares of the biopharmaceutical company’s stock worth $1,284,000 after purchasing an additional 2,335 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in MacroGenics by 7.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,337 shares of the biopharmaceutical company’s stock worth $475,000 after purchasing an additional 3,319 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in MacroGenics by 66.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,935 shares of the biopharmaceutical company’s stock worth $176,000 after purchasing an additional 4,761 shares during the last quarter. Institutional investors own 96.89% of the company’s stock.

MacroGenics Company Profile

(Get Free Report)

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.

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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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