MacroGenics (NASDAQ:MGNX) Cut to Hold at TD Cowen

MacroGenics (NASDAQ:MGNX) was downgraded by equities researchers at TD Cowen from a “buy” rating to a “hold” rating in a report released on Friday, Marketbeat Ratings reports.

Other analysts also recently issued reports about the stock. TheStreet downgraded shares of MacroGenics from a “c” rating to a “d” rating in a research report on Thursday, March 7th. HC Wainwright downgraded MacroGenics from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $12.00 to $14.00 in a research report on Wednesday, February 14th. JMP Securities reiterated a “market outperform” rating on shares of MacroGenics in a research report on Thursday, April 4th. BTIG Research boosted their price target on MacroGenics from $12.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Finally, B. Riley began coverage on MacroGenics in a research note on Friday, April 26th. They issued a “buy” rating and a $25.00 price target for the company. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.78.

MacroGenics Stock Up 0.1 %

Shares of MGNX opened at $14.67 on Friday. The business has a 50-day simple moving average of $16.31 and a two-hundred day simple moving average of $12.62. MacroGenics has a 52 week low of $4.29 and a 52 week high of $21.88. The stock has a market cap of $917.77 million, a price-to-earnings ratio of -91.69 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.17). MacroGenics had a negative return on equity of 88.49% and a negative net margin of 15.42%. The firm had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $13.63 million. On average, equities analysts anticipate that MacroGenics will post -2.7 earnings per share for the current fiscal year.

Insider Transactions at MacroGenics

In related news, VP Jeffrey Stuart Peters sold 51,395 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $15.55, for a total value of $799,192.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On MacroGenics

Several institutional investors have recently modified their holdings of the stock. AJOVista LLC bought a new position in shares of MacroGenics during the 4th quarter valued at approximately $51,000. China Universal Asset Management Co. Ltd. boosted its stake in MacroGenics by 349.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company’s stock worth $69,000 after buying an additional 5,577 shares during the period. Sound Income Strategies LLC bought a new position in MacroGenics during the first quarter valued at $77,000. SG Americas Securities LLC purchased a new stake in shares of MacroGenics in the third quarter valued at $97,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in shares of MacroGenics in the 3rd quarter worth about $99,000. 96.89% of the stock is owned by institutional investors.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.