MacroGenics (MGNX) Given “Buy” Rating at Raymond James Financial

Raymond James Financial reiterated their buy rating on shares of MacroGenics (NASDAQ:MGNX) in a report issued on Monday.

MGNX has been the topic of a number of other research reports. Stifel Nicolaus reiterated a buy rating and set a $34.00 target price on shares of MacroGenics in a research report on Tuesday, September 12th. SunTrust Banks restated a buy rating and issued a $26.00 price target on shares of MacroGenics in a research report on Friday, September 1st. Zacks Investment Research cut MacroGenics from a hold rating to a sell rating in a research report on Wednesday, October 4th. ValuEngine upgraded MacroGenics from a strong sell rating to a sell rating in a research report on Friday, September 1st. Finally, BidaskClub upgraded MacroGenics from a strong sell rating to a sell rating in a research report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. MacroGenics has a consensus rating of Buy and an average price target of $30.10.

MacroGenics (NASDAQ MGNX) traded down $0.79 during trading on Monday, reaching $18.71. The company’s stock had a trading volume of 293,700 shares, compared to its average volume of 261,870. MacroGenics has a one year low of $14.36 and a one year high of $27.00.

MacroGenics (NASDAQ:MGNX) last posted its earnings results 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 firm had revenue of $1.70 million for the quarter, compared to analyst estimates of $5.50 million. During the same quarter last year, the firm posted ($0.97) EPS. The firm’s revenue for the quarter was down 48.5% on a year-over-year basis. equities research analysts predict 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 that occurred 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 of the company’s stock, valued at approximately $700,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.30% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in MacroGenics by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 1,352,864 shares of the biopharmaceutical company’s stock valued at $25,163,000 after buying an additional 44,680 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in MacroGenics in the 1st quarter valued at approximately $810,000. Renaissance Technologies LLC acquired a new position in MacroGenics in the 1st quarter valued at $2,435,000. Schwab Charles Investment Management Inc. raised its holdings in MacroGenics by 7.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 122,969 shares of the biopharmaceutical company’s stock valued at $2,288,000 after acquiring an additional 8,108 shares during the last quarter. Finally, State Street Corp raised its holdings in MacroGenics by 20.0% in the 1st quarter. State Street Corp now owns 1,007,211 shares of the biopharmaceutical company’s stock valued at $18,732,000 after acquiring an additional 167,720 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

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About MacroGenics

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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