MacroGenics (NASDAQ:MGNX) Downgraded by StockNews.com to "Sell"

MacroGenics (NASDAQ:MGNX - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Several other equities research analysts also recently weighed in on MGNX. BTIG Research downgraded shares of MacroGenics from a "buy" rating to a "neutral" rating in a research note on Thursday, August 1st. Citigroup cut their target price 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. Barclays cut their target price 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. JMP Securities cut their target price on shares of MacroGenics from $16.00 to $8.00 and set a "market outperform" rating on the stock in a research note on Wednesday, July 31st. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $4.00 target price on shares of MacroGenics in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $8.11.

MacroGenics Trading Up 5.7 %

Shares of NASDAQ:MGNX opened at $3.87 on Friday. MacroGenics has a 12-month low of $2.95 and a 12-month high of $21.88. The company has a market capitalization of $242.73 million, a PE ratio of -1.76 and a beta of 2.08. The business has a 50 day moving average of $3.55 and a two-hundred day moving average of $5.45.

MacroGenics (NASDAQ:MGNX - Get Free Report) last issued 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 firm had revenue of $10.80 million for 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%. Equities research analysts predict that MacroGenics will post -1.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MacroGenics

Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of MacroGenics by 8,361.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,438,050 shares of the biopharmaceutical company's stock worth $35,889,000 after buying an additional 2,409,237 shares during the period. Frazier Life Sciences Management L.P. boosted its holdings in shares of MacroGenics by 21.8% in 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 buying an additional 539,023 shares during the period. Swiss National Bank acquired a new position in shares of MacroGenics in the first quarter worth about $1,351,000. Millennium Management LLC boosted its holdings in shares of MacroGenics by 3,473.7% in the second quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company's stock worth $14,079,000 after buying an additional 3,219,977 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of MacroGenics by 1,689.3% in the second quarter. Marshall Wace LLP now owns 658,007 shares of the biopharmaceutical company's stock worth $2,797,000 after buying an additional 621,232 shares during the period. 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.