MacroGenics (MGNX) Upgraded to “Sell” by BidaskClub

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BidaskClub upgraded shares of MacroGenics (NASDAQ:MGNX) from a strong sell rating to a sell rating in a research note issued to investors on Friday, October 19th.

A number of other brokerages have also issued reports on MGNX. Zacks Investment Research lowered MacroGenics from a buy rating to a hold rating in a research report on Wednesday, October 17th. BTIG Research started coverage on MacroGenics in a research report on Monday, September 10th. They issued a buy rating and a $30.00 target price on the stock. Cowen reissued a buy rating on shares of MacroGenics in a research report on Wednesday, August 8th. HC Wainwright reaffirmed a buy rating and set a $34.00 price objective on shares of MacroGenics in a research report on Wednesday, August 8th. Finally, ValuEngine lowered MacroGenics from a buy rating to a hold rating in a research report on Thursday, September 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. MacroGenics has an average rating of Buy and a consensus price target of $30.38.

Shares of MacroGenics stock traded down $0.89 on Friday, hitting $17.36. 599,819 shares of the company were exchanged, compared to its average volume of 259,789. MacroGenics has a 1-year low of $15.48 and a 1-year high of $32.74. The stock has a market cap of $701.14 million, a P/E ratio of -32.15 and a beta of 2.49.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.81) EPS for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.48. MacroGenics had a negative return on equity of 7.37% and a negative net margin of 10.72%. The firm had revenue of $20.80 million for the quarter, compared to analysts’ expectations of $6.18 million. As a group, research analysts forecast that MacroGenics will post -4.66 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of MGNX. JPMorgan Chase & Co. boosted its stake in MacroGenics by 23.7% in the first quarter. JPMorgan Chase & Co. now owns 32,262 shares of the biopharmaceutical company’s stock valued at $812,000 after acquiring an additional 6,178 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in MacroGenics by 64.4% in the first quarter. Russell Investments Group Ltd. now owns 16,600 shares of the biopharmaceutical company’s stock valued at $418,000 after acquiring an additional 6,500 shares in the last quarter. Stifel Financial Corp boosted its stake in MacroGenics by 18.1% in the first quarter. Stifel Financial Corp now owns 19,766 shares of the biopharmaceutical company’s stock valued at $500,000 after acquiring an additional 3,033 shares in the last quarter. GSA Capital Partners LLP acquired a new position in MacroGenics in the first quarter valued at $481,000. Finally, Allianz Asset Management GmbH boosted its stake in MacroGenics by 32.8% in the first quarter. Allianz Asset Management GmbH now owns 68,944 shares of the biopharmaceutical company’s stock valued at $1,735,000 after acquiring an additional 17,010 shares in the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, focuses on the discovery and development of antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, as well as various 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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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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