MacroGenics (NASDAQ:MGNX) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.

Several other equities research analysts have also weighed in on the company. Raymond James Financial restated a “buy” rating on shares of MacroGenics in a report on Monday, December 11th. ValuEngine upgraded MacroGenics from a “strong sell” rating to a “sell” rating in a report on Friday, December 1st. Citigroup boosted their target price on MacroGenics from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, November 10th. Cowen restated a “buy” rating on shares of MacroGenics in a report on Wednesday, October 25th. Finally, Zacks Investment Research upgraded MacroGenics from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $30.10.

MacroGenics (MGNX) traded up $0.25 on Thursday, reaching $19.27. The company had a trading volume of 488,410 shares, compared to its average volume of 268,524. MacroGenics has a 12-month low of $14.36 and a 12-month high of $22.31.

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

In other MacroGenics news, SVP Jon Marc Wigginton sold 10,000 shares of MacroGenics stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the transaction, the senior vice president now directly owns 40,000 shares of the company’s stock, valued at approximately $800,000. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 8.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Jennison Associates LLC increased its position in MacroGenics by 0.6% in the 2nd quarter. Jennison Associates LLC now owns 189,970 shares of the biopharmaceutical company’s stock worth $3,326,000 after buying an additional 1,062 shares during the period. Vanguard Group Inc. increased its position in shares of MacroGenics by 2.8% during the second quarter. Vanguard Group Inc. now owns 1,391,322 shares of the biopharmaceutical company’s stock valued at $24,362,000 after purchasing an additional 38,458 shares during the period. Tocqueville Asset Management L.P. increased its position in shares of MacroGenics by 33.3% during the third quarter. Tocqueville Asset Management L.P. now owns 100,000 shares of the biopharmaceutical company’s stock valued at $1,848,000 after purchasing an additional 25,000 shares during the period. Hood River Capital Management LLC increased its position in shares of MacroGenics by 2.2% during the third quarter. Hood River Capital Management LLC now owns 588,799 shares of the biopharmaceutical company’s stock valued at $10,881,000 after purchasing an additional 12,606 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in shares of MacroGenics by 21.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 148,792 shares of the biopharmaceutical company’s stock valued at $2,606,000 after purchasing an additional 25,823 shares during the period. 85.81% of the stock is currently owned by institutional investors.

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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)

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