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.

TRADEMARK VIOLATION WARNING: “MacroGenics, Inc. (MGNX) Downgraded by Zacks Investment Research” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this report can be read at https://www.thecerbatgem.com/2017/10/08/macrogenics-inc-mgnx-downgraded-by-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on MacroGenics (MGNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

Receive News & Stock Ratings for MacroGenics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MacroGenics Inc. and related stocks with our FREE daily email newsletter.