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

MacroGenics (NASDAQ:MGNX - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "buy" rating in a note issued to investors on Sunday.

Other analysts have also recently issued reports about the stock. Evercore ISI upgraded shares of MacroGenics to a "strong-buy" rating in a research note on Monday, September 16th. BTIG Research downgraded MacroGenics from a "buy" rating to a "neutral" rating in a research note on Thursday, August 1st. BMO Capital Markets lowered their price objective on MacroGenics from $8.00 to $5.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 7th. JMP Securities cut shares of MacroGenics from an "outperform" rating to a "market perform" rating in a report on Thursday. Finally, Barclays dropped their target price on MacroGenics from $14.00 to $9.00 and set an "overweight" rating on the stock in a research report on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $7.63.

MacroGenics Price Performance

Shares of MGNX traded down $0.11 during trading hours on Friday, reaching $4.35. 731,100 shares of the company traded hands, compared to its average volume of 726,524. The business has a fifty day moving average price of $3.61 and a 200-day moving average price of $4.88. MacroGenics has a 12-month low of $2.95 and a 12-month high of $21.88.

Institutional Investors Weigh In On MacroGenics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new position in MacroGenics in the 3rd quarter valued at about $68,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in MacroGenics by 39.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 661,914 shares of the biopharmaceutical company's stock valued at $2,178,000 after acquiring an additional 186,858 shares during the last quarter. GSA Capital Partners LLP grew its position in MacroGenics by 117.2% in the third quarter. GSA Capital Partners LLP now owns 207,877 shares of the biopharmaceutical company's stock worth $684,000 after acquiring an additional 112,188 shares during the period. XML Financial LLC increased its stake in MacroGenics by 66.0% during the third quarter. XML Financial LLC now owns 17,600 shares of the biopharmaceutical company's stock worth $58,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in 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 acquiring an additional 50,661 shares during the last quarter. Institutional investors and hedge funds own 96.89% of the company's stock.

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.