MacroGenics (NASDAQ:MGNX) Downgraded by Zacks Investment Research to Sell

Share on StockTwits

Zacks Investment Research lowered shares of MacroGenics (NASDAQ:MGNX) from a hold rating to a sell rating in a research report report published on Wednesday morning, Zacks.com reports.

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. “

MGNX has been the subject of several other reports. Credit Suisse Group restated an underperform rating on shares of MARKS & SPENCER/S in a report on Wednesday, April 17th. Guggenheim cut shares of Anadarko Petroleum from a buy rating to a hold rating and set a $69.00 price target for the company. in a report on Friday, April 12th. ValuEngine cut shares of Intersect ENT from a buy rating to a hold rating in a report on Monday, July 8th. Morgan Stanley restated a top pick rating on shares of in a report on Wednesday, June 5th. Finally, BidaskClub cut shares of Extraction Oil & Gas from a hold rating to a sell rating in a report on Saturday, May 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. MacroGenics has a consensus rating of Hold and a consensus target price of $31.62.

Shares of MGNX opened at $15.87 on Wednesday. MacroGenics has a one year low of $9.87 and a one year high of $32.32. The stock has a 50-day moving average price of $16.58. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 0.08.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.04). The company had revenue of $9.66 million for the quarter, compared to analyst estimates of $11.46 million. MacroGenics had a negative return on equity of 57.65% and a negative net margin of 256.47%. As a group, analysts anticipate that MacroGenics will post -3.75 earnings per share for the current fiscal year.

In other MacroGenics news, SVP Eric Blasius Risser sold 3,000 shares of MacroGenics stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $18.38, for a total value of $55,140.00. Following the completion of the sale, the senior vice president now directly owns 33,806 shares in the company, valued at $621,354.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 7.88% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of MGNX. Rhumbline Advisers increased its position in shares of MacroGenics by 48.8% during the fourth quarter. Rhumbline Advisers now owns 51,665 shares of the biopharmaceutical company’s stock worth $656,000 after purchasing an additional 16,950 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of MacroGenics during the fourth quarter worth $965,000. Acadian Asset Management LLC acquired a new position in shares of MacroGenics during the fourth quarter worth $65,000. BlackRock Inc. increased its position in shares of MacroGenics by 5.5% in the 4th quarter. BlackRock Inc. now owns 3,401,391 shares of the biopharmaceutical company’s stock valued at $43,198,000 after acquiring an additional 176,135 shares during the period. Finally, Citigroup Inc. increased its position in shares of MacroGenics by 32.4% in the 4th quarter. Citigroup Inc. now owns 52,484 shares of the biopharmaceutical company’s stock valued at $667,000 after acquiring an additional 12,844 shares during the period. Hedge funds and other institutional investors own 90.52% of the company’s stock.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.

Further Reading: What strategies should day traders use to execute a trade?

Get a free copy of the Zacks research report on MacroGenics (MGNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

Receive News & Ratings for MacroGenics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MacroGenics and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.