MacroGenics (NASDAQ:MGNX) Rating Increased to Hold at Zacks Investment Research

MacroGenics (NASDAQ:MGNXGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, 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 topic of a number of other reports. Guggenheim downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 4th. SVB Leerink cut their target price on shares of MacroGenics from $40.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, February 25th. BMO Capital Markets started coverage on MacroGenics in a report on Friday, February 11th. They set an “outperform” rating and a $31.00 target price for the company. Sumitomo Mitsui Financial Group began coverage on MacroGenics in a report on Friday, February 4th. They issued an “outperform” rating and a $40.00 price target on the stock. Finally, Barclays lowered their price objective on MacroGenics from $35.00 to $18.00 in a research note on Friday, February 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $29.30.

NASDAQ:MGNX opened at $4.26 on Tuesday. The business’s 50 day moving average is $8.30 and its two-hundred day moving average is $13.02. MacroGenics has a 52 week low of $4.22 and a 52 week high of $32.81. The company has a market cap of $261.28 million, a PE ratio of -1.20 and a beta of 2.13.

MacroGenics (NASDAQ:MGNXGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.28). MacroGenics had a negative net margin of 303.19% and a negative return on equity of 84.52%. During the same period last year, the business earned ($0.90) EPS. Analysts anticipate that MacroGenics will post -3.15 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Marshall Wace North America L.P. acquired a new position in shares of MacroGenics during the first quarter valued at $59,000. Marshall Wace LLP acquired a new position in MacroGenics during the 1st quarter valued at about $80,000. Point72 Hong Kong Ltd increased its stake in MacroGenics by 101.9% during the 4th quarter. Point72 Hong Kong Ltd now owns 5,361 shares of the biopharmaceutical company’s stock valued at $86,000 after buying an additional 2,706 shares during the period. Nisa Investment Advisors LLC raised its position in shares of MacroGenics by 46.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,079 shares of the biopharmaceutical company’s stock worth $75,000 after buying an additional 1,929 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of MacroGenics by 11.3% in the 2nd quarter. Royal Bank of Canada now owns 6,639 shares of the biopharmaceutical company’s stock worth $178,000 after acquiring an additional 676 shares during the period.

About MacroGenics (Get Rating)

MacroGenics, Inc, a biopharmaceutical company, develops 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.

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