MacroGenics (NASDAQ:MGNX) Stock Rating Upgraded by StockNews.com

MacroGenics (NASDAQ:MGNX) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other equities analysts have also recently issued research reports about the stock. Guggenheim cut shares of MacroGenics from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 31st. JMP Securities reduced their price objective on shares of MacroGenics from $16.00 to $8.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 31st. Barclays reduced their price objective on shares of MacroGenics from $14.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, July 29th. BMO Capital Markets reduced their price objective on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. Finally, BTIG Research lowered shares of MacroGenics from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, MacroGenics has a consensus rating of “Hold” and a consensus target price of $8.11.

MacroGenics Price Performance

Shares of MGNX stock traded down $0.11 during trading hours on Friday, reaching $3.49. The stock had a trading volume of 436,597 shares, compared to its average volume of 1,509,590. MacroGenics has a twelve month low of $2.95 and a twelve month high of $21.88. The firm has a 50-day simple moving average of $3.54 and a 200-day simple moving average of $5.94. The firm has a market capitalization of $218.89 million, a PE ratio of -1.59 and a beta of 2.08.

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

Institutional Trading of MacroGenics

Several institutional investors have recently made changes to their positions in the stock. Pinnacle Associates Ltd. boosted its holdings in shares of MacroGenics by 7.9% during the third quarter. Pinnacle Associates Ltd. now owns 687,980 shares of the biopharmaceutical company’s stock worth $2,263,000 after purchasing an additional 50,661 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of MacroGenics by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 4,707 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of MacroGenics by 260.8% during the third quarter. Exchange Traded Concepts LLC now owns 48,823 shares of the biopharmaceutical company’s stock worth $161,000 after purchasing an additional 35,291 shares during the period. SG Americas Securities LLC acquired a new stake in shares of MacroGenics during the third quarter worth approximately $55,000. Finally, Frazier Life Sciences Management L.P. boosted its holdings in shares of MacroGenics by 21.8% during the second quarter. Frazier Life Sciences Management L.P. now owns 3,010,727 shares of the biopharmaceutical company’s stock worth $12,796,000 after purchasing an additional 539,023 shares during the period. 96.89% of the stock is currently owned by institutional investors and hedge funds.

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.