Wedbush restated their outperform rating on shares of MacroGenics, Inc. (NASDAQ:MGNX) in a research note published on Monday, September 11th. The firm currently has a $44.00 target price on the biopharmaceutical company’s stock.
A number of other equities research analysts also recently commented on MGNX. BidaskClub downgraded MacroGenics from a sell rating to a strong sell rating in a research report on Saturday, August 12th. Morgan Stanley reduced their target price on MacroGenics from $22.00 to $21.00 and set an equal weight rating on the stock in a research report on Monday, August 7th. Cowen and Company reiterated a buy rating on shares of MacroGenics in a report on Friday, August 4th. Zacks Investment Research downgraded MacroGenics from a buy rating to a hold rating in a report on Thursday, August 3rd. Finally, ValuEngine downgraded MacroGenics from a sell rating to a strong sell rating in a report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $30.30.
MacroGenics (NASDAQ MGNX) opened at 16.88 on Monday. The firm’s market cap is $621.15 million. The firm’s 50-day moving average is $17.07 and its 200 day moving average is $18.31. MacroGenics has a 12-month low of $14.36 and a 12-month high of $32.68.
MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.09). The business had revenue of $1.70 million during the quarter, compared to analyst estimates of $15.82 million. MacroGenics had a negative net margin of 1,216.51% and a negative return on equity of 56.81%. The firm’s revenue for the quarter was down 97.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 earnings per share. Equities analysts forecast that MacroGenics will post ($4.42) earnings per share for the current year.
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A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC raised its stake in MacroGenics by 6.0% during the 2nd quarter. FMR LLC now owns 5,238,917 shares of the biopharmaceutical company’s stock valued at $91,733,000 after acquiring an additional 295,553 shares during the last quarter. OppenheimerFunds Inc. raised its stake in MacroGenics by 9.4% during the 1st quarter. OppenheimerFunds Inc. now owns 3,323,025 shares of the biopharmaceutical company’s stock valued at $61,808,000 after acquiring an additional 286,018 shares during the last quarter. BB Biotech AG raised its stake in MacroGenics by 4.0% during the 2nd quarter. BB Biotech AG now owns 2,350,112 shares of the biopharmaceutical company’s stock valued at $41,150,000 after acquiring an additional 90,112 shares during the last quarter. Vanguard Group Inc. raised its stake in MacroGenics by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,391,322 shares of the biopharmaceutical company’s stock valued at $24,362,000 after acquiring an additional 38,458 shares during the last quarter. Finally, Wasatch Advisors Inc. raised its stake in MacroGenics by 5,159.3% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,044,243 shares of the biopharmaceutical company’s stock valued at $18,285,000 after acquiring an additional 1,024,388 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.
MacroGenics Company Profile
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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