MacroGenics (NASDAQ:MGNX) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of MacroGenics (NASDAQ:MGNX) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Several other analysts have also recently weighed in on MGNX. HC Wainwright restated a “neutral” rating and set a $2.00 price target on shares of MacroGenics in a report on Monday, November 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of MacroGenics in a research report on Monday, December 22nd. Finally, Barclays assumed coverage on shares of MacroGenics in a report on Wednesday, September 17th. They set an “overweight” rating and a $3.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $3.60.

MacroGenics Stock Performance

Shares of NASDAQ:MGNX opened at $1.61 on Thursday. MacroGenics has a 52-week low of $0.99 and a 52-week high of $3.60. The company has a market capitalization of $101.85 million, a PE ratio of -1.34 and a beta of 1.51. The company has a fifty day moving average of $1.51 and a 200-day moving average of $1.58.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported $0.27 earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.75. MacroGenics had a negative return on equity of 98.30% and a negative net margin of 59.46%.The company had revenue of $72.84 million for the quarter, compared to the consensus estimate of $28.72 million. On average, equities analysts forecast that MacroGenics will post -1.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in shares of MacroGenics by 55.9% in the 3rd quarter. SG Americas Securities LLC now owns 17,179 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 6,161 shares during the period. Quadrature Capital Ltd acquired a new stake in MacroGenics during the 2nd quarter worth about $26,000. State of Wyoming bought a new position in shares of MacroGenics in the 1st quarter worth about $28,000. Qube Research & Technologies Ltd acquired a new position in shares of MacroGenics in the 3rd quarter valued at about $38,000. Finally, Engineers Gate Manager LP acquired a new position in shares of MacroGenics in the 2nd quarter valued at about $28,000. Institutional investors own 96.89% of the company’s stock.

MacroGenics Company Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.