MacroGenics (NASDAQ:MGNX) Upgraded to Buy at Guggenheim

Guggenheim upgraded shares of MacroGenics (NASDAQ:MGNXGet Rating) from a neutral rating to a buy rating in a report published on Tuesday morning, The Fly reports.

A number of other brokerages have also weighed in on MGNX. HC Wainwright lifted their price objective on MacroGenics from $11.00 to $12.00 and gave the company a buy rating in a report on Monday, November 7th. Barclays dropped their price objective on MacroGenics to $8.00 in a report on Monday, August 15th. Citigroup raised their target price on MacroGenics from $13.00 to $16.00 and gave the company a buy rating in a report on Monday, August 29th. SVB Leerink lowered their price target on shares of MacroGenics from $15.00 to $12.00 and set an outperform rating on the stock in a research note on Tuesday, August 9th. Finally, BMO Capital Markets upgraded shares of MacroGenics from a market perform rating to an outperform rating and raised their price objective for the company from $5.70 to $16.00 in a research note on Monday, November 14th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $11.88.

MacroGenics Stock Performance

Shares of MacroGenics stock opened at $6.18 on Tuesday. The company has a market cap of $379.92 million, a P/E ratio of -1.99 and a beta of 2.06. The firm has a fifty day moving average of $4.53 and a two-hundred day moving average of $3.99. MacroGenics has a one year low of $2.13 and a one year high of $19.73.

Insider Buying and Selling

In other MacroGenics news, major shareholder Target N. V. Biotech acquired 250,000 shares of the stock in a transaction that occurred on Friday, October 21st. The shares were purchased at an average cost of $4.63 per share, with a total value of $1,157,500.00. Following the purchase, the insider now owns 7,979,963 shares in the company, valued at $36,947,228.69. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other MacroGenics news, major shareholder Target N. V. Biotech purchased 250,000 shares of MacroGenics stock in a transaction on Friday, October 21st. The shares were bought at an average price of $4.63 per share, with a total value of $1,157,500.00. Following the completion of the acquisition, the insider now directly owns 7,979,963 shares of the company’s stock, valued at $36,947,228.69. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Target N. V. Biotech purchased 168,422 shares of the stock in a transaction dated Wednesday, October 19th. The stock was acquired at an average price of $3.70 per share, for a total transaction of $623,161.40. Following the completion of the transaction, the insider now directly owns 7,443,986 shares of the company’s stock, valued at $27,542,748.20. The disclosure for this purchase can be found here. Insiders have acquired 668,422 shares of company stock worth $2,870,661 in the last three months. Corporate insiders own 7.90% of the company’s stock.

Institutional Trading of MacroGenics

A number of large investors have recently made changes to their positions in MGNX. Denali Advisors LLC acquired a new position in MacroGenics in the 3rd quarter valued at about $25,000. Nisa Investment Advisors LLC raised its position in shares of MacroGenics by 692.3% in the third quarter. Nisa Investment Advisors LLC now owns 5,150 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 4,500 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of MacroGenics during the second quarter valued at approximately $32,000. Diversified Trust Co acquired a new stake in MacroGenics during the second quarter worth approximately $37,000. Finally, Mackenzie Financial Corp purchased a new stake in MacroGenics in the 2nd quarter worth approximately $37,000.

MacroGenics Company Profile

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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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