MacroGenics (NASDAQ:MGNX) Stock Rating Lowered by Wall Street Zen

MacroGenics (NASDAQ:MGNX) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Friday.

A number of other research firms also recently issued reports on MGNX. B. Riley reduced their price target on shares of MacroGenics from $5.00 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 20th. HC Wainwright reduced their price target on shares of MacroGenics from $4.00 to $2.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Barclays restated an “overweight” rating and issued a $3.00 price target (down from $8.00) on shares of MacroGenics in a research report on Wednesday, May 14th. Finally, Stifel Nicolaus reduced their price target on shares of MacroGenics from $6.00 to $5.00 and set a “hold” rating on the stock in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.71.

MacroGenics Price Performance

NASDAQ MGNX opened at $1.19 on Friday. MacroGenics has a 12 month low of $0.99 and a 12 month high of $5.77. The company has a market capitalization of $75.08 million, a price-to-earnings ratio of -1.34 and a beta of 1.65. The company’s fifty day moving average price is $1.52 and its two-hundred day moving average price is $2.15.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.04). MacroGenics had a negative return on equity of 59.84% and a negative net margin of 36.23%. The business had revenue of $13.19 million during the quarter, compared to the consensus estimate of $9.59 million. As a group, analysts anticipate that MacroGenics will post -1.06 EPS for the current year.

Institutional Trading of MacroGenics

Hedge funds have recently bought and sold shares of the company. State of Wyoming bought a new stake in MacroGenics in the 1st quarter valued at about $28,000. Lazard Asset Management LLC bought a new stake in MacroGenics in the 4th quarter valued at about $32,000. American Century Companies Inc. bought a new stake in MacroGenics in the 4th quarter valued at about $38,000. Jump Financial LLC bought a new stake in MacroGenics in the 4th quarter valued at about $44,000. Finally, Deutsche Bank AG lifted its position in MacroGenics by 3,803.2% in the 1st quarter. Deutsche Bank AG now owns 51,093 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 49,784 shares during the last quarter. 96.89% of the stock is currently owned by institutional investors.

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.