StockNews.com Upgrades MacroGenics (NASDAQ:MGNX) to Hold

StockNews.com upgraded shares of MacroGenics (NASDAQ:MGNX) from a sell rating to a hold rating in a report released on Friday morning.

MGNX has been the topic of a number of other research reports. BTIG Research downgraded MacroGenics from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. Guggenheim lowered shares of MacroGenics from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 31st. Evercore ISI upgraded shares of MacroGenics to a “strong-buy” rating in a report on Monday, September 16th. Barclays dropped their price objective on shares of MacroGenics from $14.00 to $9.00 and set an “overweight” rating on the stock in a research note on Monday, July 29th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $4.00 target price on shares of MacroGenics in a research report on Wednesday, September 18th. Eight investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.11.

MacroGenics Price Performance

MacroGenics stock 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 firm’s 50 day simple moving average is $3.54 and its 200-day simple moving average is $5.94. The company has a market cap 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 data on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). MacroGenics had a negative return on equity of 146.01% and a negative net margin of 332.47%. The firm had revenue of $10.80 million during the quarter, compared to analyst estimates of $24.14 million. On average, analysts expect that MacroGenics will post -1.72 EPS for the current fiscal year.

Hedge Funds Weigh In On MacroGenics

Several hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC lifted its position in shares of MacroGenics by 8.9% in the first quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock worth $225,000 after buying an additional 1,246 shares during the last quarter. Diversified Trust Co raised its stake in shares of MacroGenics by 16.0% in the 1st quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock valued at $201,000 after acquiring an additional 1,880 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in MacroGenics in the 1st quarter worth approximately $40,000. CANADA LIFE ASSURANCE Co bought a new stake in MacroGenics during the first quarter worth approximately $52,000. Finally, Principal Financial Group Inc. grew its holdings in MacroGenics by 1.1% during the second quarter. Principal Financial Group Inc. now owns 348,421 shares of the biopharmaceutical company’s stock valued at $1,481,000 after purchasing an additional 3,818 shares during the last quarter. 96.89% of the stock is owned by institutional investors and hedge funds.

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.