MacroGenics (MGNX) Lifted to Sell at ValuEngine

ValuEngine upgraded shares of MacroGenics (NASDAQ:MGNX) from a strong sell rating to a sell rating in a report released on Friday.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus reiterated a buy rating and set a $34.00 price objective on shares of MacroGenics in a research report on Tuesday, September 12th. Cowen reiterated a buy rating on shares of MacroGenics in a research report on Wednesday, October 25th. SunTrust Banks restated a buy rating and issued a $26.00 target price on shares of MacroGenics in a research report on Friday, September 1st. Morgan Stanley reduced their target price on MacroGenics from $22.00 to $21.00 and set an equal weight rating on the stock in a research report on Monday, August 7th. Finally, Zacks Investment Research downgraded MacroGenics from a buy rating to a hold rating in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $30.10.

Shares of MacroGenics (MGNX) traded up $0.07 during trading on Friday, reaching $19.39. The company had a trading volume of 354,400 shares, compared to its average volume of 261,825. MacroGenics has a 52-week low of $14.36 and a 52-week high of $28.48.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.09) by ($0.19). MacroGenics had a negative return on equity of 69.31% and a negative net margin of 1,526.55%. The company had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $5.50 million. During the same quarter in the previous year, the business posted ($0.97) EPS. The business’s quarterly revenue was down 48.5% compared to the same quarter last year. analysts forecast that MacroGenics will post -0.7 EPS for the current year.

In other MacroGenics news, SVP Jon Marc Wigginton sold 5,000 shares of MacroGenics stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the sale, the senior vice president now owns 35,000 shares in the company, valued at $700,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.30% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of MGNX. FMR LLC grew its stake in shares of MacroGenics by 6.0% in the second quarter. FMR LLC now owns 5,238,917 shares of the biopharmaceutical company’s stock valued at $91,733,000 after buying an additional 295,553 shares in the last quarter. BB Biotech AG grew its stake in shares of MacroGenics by 4.0% in the second quarter. BB Biotech AG now owns 2,350,112 shares of the biopharmaceutical company’s stock valued at $41,150,000 after buying an additional 90,112 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of MacroGenics by 2.8% in the second quarter. Vanguard Group Inc. now owns 1,391,322 shares of the biopharmaceutical company’s stock valued at $24,362,000 after buying an additional 38,458 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of MacroGenics by 8.9% in the third quarter. Point72 Asset Management L.P. now owns 1,181,317 shares of the biopharmaceutical company’s stock valued at $21,831,000 after buying an additional 96,900 shares in the last quarter. Finally, Wasatch Advisors Inc. grew its stake in shares of MacroGenics by 5,159.3% in the second quarter. Wasatch Advisors Inc. now owns 1,044,243 shares of the biopharmaceutical company’s stock valued at $18,285,000 after buying an additional 1,024,388 shares in the last quarter. Institutional investors own 85.81% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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