MacroGenics (NASDAQ:MGNX) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of MacroGenics (NASDAQ:MGNX) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Several other research analysts also recently commented on MGNX. BMO Capital Markets decreased their target price on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Evercore ISI raised shares of MacroGenics to a “strong-buy” rating in a research report on Monday, September 16th. B. Riley downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $5.00 in a research report on Wednesday, July 31st. Guggenheim downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 31st. Finally, Barclays reduced their price objective on shares of MacroGenics from $14.00 to $9.00 and set an “overweight” rating on the stock in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, MacroGenics has a consensus rating of “Hold” and an average target price of $8.11.

MacroGenics Stock Performance

MGNX stock opened at $3.77 on Friday. The company has a market capitalization of $236.45 million, a PE ratio of -1.71 and a beta of 2.08. MacroGenics has a one year low of $2.95 and a one year high of $21.88. The company’s 50 day moving average price is $3.55 and its two-hundred day moving average price is $5.21.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.42). MacroGenics had a negative return on equity of 146.01% and a negative net margin of 332.47%. The firm had revenue of $10.80 million during the quarter, compared to analysts’ expectations of $24.14 million. On average, research analysts predict that MacroGenics will post -1.72 EPS for the current year.

Institutional Trading of MacroGenics

Hedge funds have recently modified their holdings of the business. ProShare Advisors LLC boosted its stake in MacroGenics by 8.9% in the 1st quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock worth $225,000 after purchasing an additional 1,246 shares in the last quarter. Diversified Trust Co boosted its stake in MacroGenics by 16.0% in the 1st quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock worth $201,000 after purchasing an additional 1,880 shares in the last quarter. EntryPoint Capital LLC bought a new position in MacroGenics in the 1st quarter worth about $40,000. CANADA LIFE ASSURANCE Co bought a new position in MacroGenics in the 1st quarter worth about $52,000. Finally, Principal Financial Group Inc. boosted its stake in MacroGenics by 1.1% in the 2nd quarter. Principal Financial Group Inc. now owns 348,421 shares of the biopharmaceutical company’s stock worth $1,481,000 after purchasing an additional 3,818 shares in the last quarter. Institutional investors own 96.89% of the company’s stock.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.