MacroGenics (NASDAQ:MGNX) was downgraded by equities research analysts at Wedbush from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, The Fly reports.
A number of other research firms also recently issued reports on MGNX. Zacks Investment Research downgraded shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. Raymond James raised shares of MacroGenics from an “underperform” rating to a “market perform” rating in a research report on Wednesday. Citigroup downgraded shares of MacroGenics from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $22.00 to $10.00 in a research report on Monday. ValuEngine downgraded shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $34.00 price objective on shares of MacroGenics in a research report on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. MacroGenics currently has a consensus rating of “Buy” and an average target price of $24.57.
MGNX opened at $25.60 on Thursday. The company has a market cap of $469.50 million, a P/E ratio of -47.41 and a beta of 2.65. MacroGenics has a 1 year low of $9.87 and a 1 year high of $32.74.
MacroGenics (NASDAQ:MGNX) last posted its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.29) by $0.48. The firm had revenue of $20.80 million during the quarter, compared to the consensus estimate of $6.18 million. MacroGenics had a negative net margin of 10.72% and a negative return on equity of 7.39%. Analysts expect that MacroGenics will post -4.19 earnings per share for the current year.
A number of large investors have recently modified their holdings of MGNX. Meeder Asset Management Inc. grew its position in MacroGenics by 4,851.9% in the fourth quarter. Meeder Asset Management Inc. now owns 12,033 shares of the biopharmaceutical company’s stock valued at $153,000 after acquiring an additional 11,790 shares in the last quarter. Sun Life Financial INC grew its position in MacroGenics by 58.0% in the fourth quarter. Sun Life Financial INC now owns 12,947 shares of the biopharmaceutical company’s stock valued at $164,000 after acquiring an additional 4,751 shares in the last quarter. Verition Fund Management LLC acquired a new stake in MacroGenics in the third quarter valued at approximately $202,000. Keybank National Association OH acquired a new stake in MacroGenics in the third quarter valued at approximately $203,000. Finally, Hussman Strategic Advisors Inc. acquired a new stake in MacroGenics in the third quarter valued at approximately $214,000. 86.96% of the stock is owned by institutional investors.
MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, and autoimmune disorders and infectious diseases in the United States. The company's advanced clinical product candidate is Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets human epidermal growth factor receptor 2-expressing tumors, such as various breast and gastroesophageal cancers.
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