MacroGenics (NASDAQ:MGNX) Stock Rating Lowered by Stifel Nicolaus

MacroGenics (NASDAQ:MGNX) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report issued on Friday, MarketBeat reports. They currently have a $7.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $29.00. Stifel Nicolaus’ target price points to a potential downside of 52.28% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. B. Riley started coverage on MacroGenics in a research report on Friday, April 26th. They set a “buy” rating and a $25.00 price target on the stock. HC Wainwright lowered MacroGenics from a “buy” rating to a “neutral” rating and upped their target price for the stock from $12.00 to $14.00 in a research note on Wednesday, February 14th. Barclays lifted their price target on shares of MacroGenics from $12.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. TheStreet cut shares of MacroGenics from a “c” rating to a “d” rating in a research note on Thursday, March 7th. Finally, TD Cowen cut shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, MacroGenics has a consensus rating of “Moderate Buy” and an average target price of $15.78.

MacroGenics Trading Up 0.1 %

MGNX stock opened at $14.67 on Friday. The company’s 50 day moving average is $16.31 and its 200 day moving average is $12.62. The stock has a market cap of $917.77 million, a price-to-earnings ratio of -91.69 and a beta of 2.09. MacroGenics has a 1-year low of $4.29 and a 1-year high of $21.88.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.17). MacroGenics had a negative return on equity of 88.49% and a negative net margin of 15.42%. The company had revenue of $9.10 million during the quarter, compared to the consensus estimate of $13.63 million. As a group, sell-side analysts forecast that MacroGenics will post -2.7 EPS for the current fiscal year.

Insider Buying and Selling at MacroGenics

In other MacroGenics news, VP Jeffrey Stuart Peters sold 51,395 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $15.55, for a total value of $799,192.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On MacroGenics

Institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP raised its stake in MacroGenics by 74.9% in the third quarter. GSA Capital Partners LLP now owns 225,918 shares of the biopharmaceutical company’s stock worth $1,053,000 after buying an additional 96,760 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of MacroGenics during the third quarter valued at approximately $281,000. Silverarc Capital Management LLC grew its stake in MacroGenics by 4.0% in the third quarter. Silverarc Capital Management LLC now owns 1,264,158 shares of the biopharmaceutical company’s stock worth $5,891,000 after purchasing an additional 48,483 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in MacroGenics by 32.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 194,204 shares of the biopharmaceutical company’s stock worth $905,000 after purchasing an additional 48,118 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in MacroGenics in the third quarter worth $649,000. 96.89% of the stock is 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.