MacroGenics (MGNX) Lowered to “Sell” at Zacks Investment Research

MacroGenics (NASDAQ:MGNX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

According to Zacks, “MacroGenics Inc. is a biopharmaceutical company. It is focused on discovering and developing innovative monoclonal antibody-based therapeutics. The Company has a diverse portfolio of product candidates focused in three therapeutic areas: oncology, autoimmune disorders and infectious diseases. MacroGenics Inc. is headquartered in Rockville, Maryland. “

Other research analysts have also issued research reports about the company. Cowen reaffirmed a “buy” rating on shares of MacroGenics in a research report on Wednesday, January 24th. SunTrust Banks reaffirmed a “buy” rating and set a $31.00 price target on shares of MacroGenics in a research report on Tuesday, January 23rd. BTIG Research reaffirmed a “buy” rating and set a $28.00 price target on shares of MacroGenics in a research report on Tuesday, January 23rd. Raymond James Financial reaffirmed a “buy” rating on shares of MacroGenics in a research report on Monday, December 11th. Finally, Citigroup boosted their price target on MacroGenics from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $30.60.

MacroGenics (NASDAQ MGNX) opened at $21.12 on Tuesday. MacroGenics has a 1 year low of $14.36 and a 1 year high of $23.90.

MacroGenics (NASDAQ:MGNX) last posted its quarterly 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). The company 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 firm earned ($0.97) EPS. analysts anticipate that MacroGenics will post -0.7 EPS for the current year.

In related news, SVP Eric Blasius Risser sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $22.50, for a total transaction of $67,500.00. Following the transaction, the senior vice president now directly owns 12,100 shares of the company’s stock, valued at approximately $272,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jon Marc Wigginton sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $20.00, for a total value of $100,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,000 shares of company stock worth $267,500 over the last three months. 8.30% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. boosted its stake in MacroGenics by 3.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 175,106 shares of the biopharmaceutical company’s stock valued at $3,328,000 after purchasing an additional 6,118 shares during the period. Private Capital Advisors Inc. bought a new stake in MacroGenics in the 4th quarter valued at $332,000. Point72 Asset Management L.P. boosted its stake in MacroGenics by 8.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,181,317 shares of the biopharmaceutical company’s stock valued at $21,831,000 after purchasing an additional 96,900 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its stake in MacroGenics by 43.9% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 33,438 shares of the biopharmaceutical company’s stock valued at $617,000 after purchasing an additional 10,200 shares during the period. Finally, Granite Point Capital Management L.P. bought a new stake in MacroGenics in the 3rd quarter valued at $756,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

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About MacroGenics

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.

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