MacroGenics (NASDAQ:MGNX) Upgraded at Barclays

Barclays upgraded shares of MacroGenics (NASDAQ:MGNX) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on MGNX. Leerink Partners decreased their price target on shares of MacroGenics from $8.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, August 15th. B. Riley decreased their price target on shares of MacroGenics from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, May 20th. Finally, Wall Street Zen cut shares of MacroGenics from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $3.60.

MacroGenics Price Performance

NASDAQ MGNX opened at $1.73 on Tuesday. The firm’s fifty day moving average price is $1.63 and its 200 day moving average price is $1.59. The company has a market capitalization of $109.35 million, a price-to-earnings ratio of -3.04 and a beta of 1.63. MacroGenics has a 12 month low of $0.99 and a 12 month high of $5.10.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.57) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.02. The firm had revenue of $22.24 million for the quarter, compared to the consensus estimate of $28.06 million. MacroGenics had a negative net margin of 21.99% and a negative return on equity of 40.24%. As a group, sell-side analysts forecast that MacroGenics will post -1.06 earnings per share for the current year.

Insider Activity at MacroGenics

In other news, Director William K. Heiden bought 49,500 shares of MacroGenics stock in a transaction dated Wednesday, August 20th. The stock was bought at an average price of $1.49 per share, for a total transaction of $73,755.00. Following the purchase, the director owned 111,000 shares of the company’s stock, valued at approximately $165,390. The trade was a 80.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 13.00% of the company’s stock.

Institutional Trading of MacroGenics

Several hedge funds have recently made changes to their positions in the company. Armistice Capital LLC lifted its stake in shares of MacroGenics by 0.3% in the 1st quarter. Armistice Capital LLC now owns 6,296,000 shares of the biopharmaceutical company’s stock worth $7,996,000 after acquiring an additional 20,000 shares during the period. Acadian Asset Management LLC increased its holdings in shares of MacroGenics by 7.9% in the 2nd quarter. Acadian Asset Management LLC now owns 2,491,703 shares of the biopharmaceutical company’s stock valued at $3,008,000 after purchasing an additional 183,054 shares in the last quarter. EcoR1 Capital LLC purchased a new position in shares of MacroGenics in the 2nd quarter valued at about $1,939,000. Two Sigma Advisers LP increased its holdings in shares of MacroGenics by 7.1% in the 4th quarter. Two Sigma Advisers LP now owns 1,118,600 shares of the biopharmaceutical company’s stock valued at $3,635,000 after purchasing an additional 74,596 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of MacroGenics by 9.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 816,054 shares of the biopharmaceutical company’s stock valued at $1,036,000 after purchasing an additional 71,152 shares in the last quarter. Institutional investors and hedge funds 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.