MacroGenics, Inc. (MGNX) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of MacroGenics, Inc. (NASDAQ:MGNX) from a hold rating to a sell rating in a research note published on Wednesday morning.
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. “
Several other analysts also recently weighed in on MGNX. BidaskClub downgraded MacroGenics from a hold rating to a sell rating in a research report on Monday, July 31st. ValuEngine downgraded MacroGenics from a sell rating to a strong sell rating in a research report on Thursday, August 3rd. Cowen and Company restated a buy rating on shares of MacroGenics in a research report on Friday, August 4th. Morgan Stanley dropped their price objective on MacroGenics from $22.00 to $21.00 and set an equal weight rating for the company in a research report on Monday, August 7th. Finally, SunTrust Banks, Inc. restated a buy rating and set a $26.00 price objective on shares of MacroGenics in a research report on Friday, September 1st. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $30.30.
MacroGenics (MGNX) opened at 17.92 on Wednesday. MacroGenics has a one year low of $14.36 and a one year high of $31.85. The firm’s 50 day moving average price is $17.61 and its 200-day moving average price is $18.19. The company’s market capitalization is $659.42 million.
MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($0.09). MacroGenics had a negative return on equity of 56.81% and a negative net margin of 1,216.51%. The business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $15.82 million. During the same quarter in the prior year, the company earned $1.12 earnings per share. MacroGenics’s quarterly revenue was down 97.9% compared to the same quarter last year. Equities analysts forecast that MacroGenics will post ($4.42) earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. bought a new position in MacroGenics in the second quarter valued at about $133,000. Legal & General Group Plc raised its position in MacroGenics by 4.3% in the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock valued at $138,000 after purchasing an additional 328 shares during the last quarter. SG Americas Securities LLC raised its position in MacroGenics by 92.2% in the second quarter. SG Americas Securities LLC now owns 10,812 shares of the biopharmaceutical company’s stock valued at $189,000 after purchasing an additional 5,187 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in MacroGenics in the second quarter valued at about $203,000. Finally, Virtu KCG Holdings LLC bought a new position in MacroGenics in the second quarter valued at about $232,000. Hedge funds and other institutional investors own 84.47% 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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