MacroGenics (NASDAQ:MGNX - Get Free Report) was downgraded by research analysts at JMP Securities from an "outperform" rating to a "market perform" rating in a research note issued on Thursday, MarketBeat reports.
Several other equities analysts have also recently weighed in on the company. StockNews.com cut MacroGenics from a "hold" rating to a "sell" rating in a report on Saturday, November 2nd. Guggenheim lowered shares of MacroGenics from a "buy" rating to a "neutral" rating in a report on Wednesday, July 31st. Citigroup decreased their price target on shares of MacroGenics from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. BMO Capital Markets lowered 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 downgraded shares of MacroGenics from a "buy" rating to a "neutral" rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $8.11.
Get Our Latest Analysis on MGNX
MacroGenics Price Performance
Shares of MGNX stock traded up $0.27 during mid-day trading on Thursday, hitting $4.46. The company had a trading volume of 1,477,060 shares, compared to its average volume of 1,488,668. The company has a market capitalization of $279.73 million, a P/E ratio of -2.13 and a beta of 2.08. The stock's 50 day moving average price is $3.57 and its 200-day moving average price is $5.12. MacroGenics has a 52-week low of $2.95 and a 52-week high of $21.88.
MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations 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 Investors Weigh In On MacroGenics
Several hedge funds and other institutional investors have recently modified their holdings of MGNX. GSA Capital Partners LLP grew its position in MacroGenics by 117.2% in the 3rd quarter. GSA Capital Partners LLP now owns 207,877 shares of the biopharmaceutical company's stock valued at $684,000 after acquiring an additional 112,188 shares during the last quarter. XML Financial LLC boosted its stake in shares of MacroGenics by 66.0% during the third quarter. XML Financial LLC now owns 17,600 shares of the biopharmaceutical company's stock valued at $58,000 after purchasing an additional 7,000 shares during the period. Pinnacle Associates Ltd. grew its holdings in shares of MacroGenics by 7.9% in 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 last quarter. China Universal Asset Management Co. Ltd. increased its stake in 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 worth $40,000 after buying an additional 4,707 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in MacroGenics by 260.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 48,823 shares of the biopharmaceutical company's stock valued at $161,000 after buying an additional 35,291 shares in the last quarter. 96.89% of the stock is currently owned by hedge funds and other institutional investors.
About MacroGenics
(
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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