MacroGenics (MGNX) Upgraded by ValuEngine to “Sell”

MacroGenics (NASDAQ:MGNX) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Several other brokerages also recently issued reports on MGNX. Cowen reaffirmed a “buy” rating on shares of MacroGenics in a research report on Wednesday, October 25th. SunTrust Banks reaffirmed a “buy” rating and issued a $26.00 price objective on shares of MacroGenics in a research report on Friday, September 1st. Citigroup increased their target price on MacroGenics from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 10th. Stifel Nicolaus restated a “buy” rating and set a $34.00 price objective on shares of MacroGenics in a research note on Tuesday, September 12th. Finally, Wedbush restated an “outperform” rating and set a $44.00 price objective on shares of MacroGenics in a research note on Monday, September 11th. 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 company. MacroGenics currently has a consensus rating of “Buy” and a consensus price target of $30.10.

MacroGenics (NASDAQ MGNX) opened at $19.39 on Friday. MacroGenics has a one year low of $14.36 and a one year high of $28.48.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.09) by ($0.19). The business had revenue of $1.70 million for the quarter, compared to analyst estimates of $5.50 million. MacroGenics had a negative return on equity of 69.31% and a negative net margin of 1,526.55%. The firm’s revenue for the quarter was down 48.5% compared to the same quarter last year. During the same period last year, the company posted ($0.97) EPS. sell-side analysts expect that MacroGenics will post -0.7 earnings per share for the current year.

In related news, SVP Jon Marc Wigginton sold 5,000 shares of the firm’s 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 transaction, the senior vice president now directly owns 35,000 shares of the company’s stock, valued at approximately $700,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.30% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Legal & General Group Plc raised its position in shares of MacroGenics by 4.3% during the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock worth $138,000 after acquiring an additional 328 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of MacroGenics by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 26,485 shares of the biopharmaceutical company’s stock worth $463,000 after acquiring an additional 743 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its holdings in MacroGenics by 3.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 23,238 shares of the biopharmaceutical company’s stock valued at $406,000 after purchasing an additional 848 shares during the last quarter. Jennison Associates LLC increased its holdings in MacroGenics by 0.6% in the second quarter. Jennison Associates LLC now owns 189,970 shares of the biopharmaceutical company’s stock valued at $3,326,000 after purchasing an additional 1,062 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in MacroGenics by 8.4% in the second quarter. Citigroup Inc. now owns 18,975 shares of the biopharmaceutical company’s stock valued at $332,000 after purchasing an additional 1,466 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: “MacroGenics (MGNX) Upgraded by ValuEngine to “Sell”” was reported by American Banking News and is the sole property of of American Banking News. If you are reading this report on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this report can be read at https://www.americanbankingnews.com/2017/12/03/macrogenics-mgnx-upgraded-by-valuengine-to-sell.html.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply