MacroGenics (NASDAQ:MGNX)‘s stock had its “buy” rating restated by equities researchers at Raymond James Financial in a research report issued on Monday.

MGNX has been the subject of a number of other reports. Cowen reaffirmed a “buy” rating on shares of MacroGenics in a research note on Wednesday, October 25th. ValuEngine downgraded shares of MacroGenics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 14th. SunTrust Banks reaffirmed a “buy” rating and issued a $26.00 target price on shares of MacroGenics in a research note on Friday, September 1st. Zacks Investment Research cut shares of MacroGenics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Finally, Citigroup lifted their price target on shares of MacroGenics from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $30.10.

MacroGenics (NASDAQ:MGNX) opened at $18.71 on Monday. MacroGenics has a 1-year low of $14.36 and a 1-year high of $27.00.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.19). MacroGenics had a negative net margin of 1,526.55% and a negative return on equity of 69.31%. The firm had revenue of $1.70 million for the quarter, compared to the consensus estimate of $5.50 million. During the same period in the prior year, the business earned ($0.97) earnings per share. The company’s revenue for the quarter was down 48.5% on a year-over-year basis. equities 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 business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the completion of the transaction, the senior vice president now owns 35,000 shares in the company, valued at $700,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of MGNX. Teacher Retirement System of Texas boosted its holdings in shares of MacroGenics by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,848 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 466 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of MacroGenics in the second quarter worth $133,000. Legal & General Group Plc lifted its position in shares of MacroGenics by 4.3% in the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock worth $138,000 after purchasing an additional 328 shares in the last quarter. BlackRock Group LTD lifted its position in shares of MacroGenics by 70.0% in the first quarter. BlackRock Group LTD now owns 8,944 shares of the biopharmaceutical company’s stock worth $168,000 after purchasing an additional 3,682 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of MacroGenics by 92.2% in the second quarter. SG Americas Securities LLC now owns 10,812 shares of the biopharmaceutical company’s stock worth $189,000 after purchasing an additional 5,187 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

TRADEMARK VIOLATION WARNING: “MacroGenics (MGNX) Earns “Buy” Rating from Raymond James Financial” was originally reported by American Banking News and is owned by of American Banking News. If you are reading this piece on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/12/12/macrogenics-mgnx-earns-buy-rating-from-raymond-james-financial.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.

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.