MacroGenics, Inc. (NASDAQ:MGNX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “MacroGenics Inc. is a biopharmaceutical company. It is focused on discovering and developing innovative monoclonal antibody-based therapeutics. The Company has a diverse portfolio of product candidates focused in three therapeutic areas: oncology, autoimmune disorders and infectious diseases. MacroGenics Inc. is headquartered in Rockville, Maryland. “
A number of other research firms have also weighed in on MGNX. Morgan Stanley decreased their target price on MacroGenics from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, May 8th. Raymond James Financial, Inc. began coverage on MacroGenics in a report on Friday, March 31st. They issued an “outperform” rating and a $26.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $33.80.
MacroGenics (MGNX) opened at 18.18 on Tuesday. MacroGenics has a one year low of $16.63 and a one year high of $33.30. The firm’s market cap is $636.52 million. The firm’s 50-day moving average price is $18.63 and its 200 day moving average price is $19.31.
MacroGenics (NASDAQ:MGNX) last posted its earnings results on Wednesday, May 3rd. The biopharmaceutical company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by $0.09. The business had revenue of $2.06 million for the quarter, compared to analyst estimates of $5.88 million. MacroGenics had a negative return on equity of 23.24% and a negative net margin of 72.30%. On average, equities research analysts forecast that MacroGenics will post ($3.82) EPS for the current year.
In other news, SVP Jon Marc Wigginton sold 5,000 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $20.00, for a total transaction of $100,000.00. Following the completion of the sale, the senior vice president now directly owns 35,000 shares in the company, valued at approximately $700,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new stake in MacroGenics during the fourth quarter worth $186,000. American International Group Inc. increased its stake in shares of MacroGenics by 7.1% in the first quarter. American International Group Inc. now owns 19,632 shares of the biopharmaceutical company’s stock valued at $365,000 after buying an additional 1,300 shares in the last quarter. Stifel Financial Corp increased its stake in shares of MacroGenics by 7.8% in the first quarter. Stifel Financial Corp now owns 20,155 shares of the biopharmaceutical company’s stock valued at $370,000 after buying an additional 1,450 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of MacroGenics during the fourth quarter valued at $441,000. Finally, Airain ltd acquired a new stake in shares of MacroGenics during the first quarter valued at $470,000. Hedge funds and other institutional investors own 82.92% of the company’s stock.
MacroGenics Company Profile
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.
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