MacroGenics (NASDAQ:MGNX) Upgraded to “Hold” at Wall Street Zen

MacroGenics (NASDAQ:MGNX) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other equities analysts also recently commented on the stock. Citigroup reaffirmed a “market perform” rating on shares of MacroGenics in a report on Tuesday, February 24th. Barclays raised their price target on shares of MacroGenics from $3.00 to $4.00 and gave the stock an “overweight” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MacroGenics in a report on Monday, December 22nd. Finally, Zacks Research downgraded shares of MacroGenics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, MacroGenics presently has an average rating of “Hold” and an average price target of $3.80.

MacroGenics Stock Down 3.8%

NASDAQ:MGNX opened at $3.00 on Friday. The company has a market cap of $190.68 million, a PE ratio of -2.56 and a beta of 1.45. The business’s 50 day moving average is $1.93 and its two-hundred day moving average is $1.72. MacroGenics has a 52 week low of $0.99 and a 52 week high of $3.54.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Monday, March 9th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.20. The business had revenue of $41.23 million during the quarter, compared to the consensus estimate of $27.81 million. MacroGenics had a negative return on equity of 120.19% and a negative net margin of 49.91%. As a group, sell-side analysts expect that MacroGenics will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

A number of hedge funds have recently added to or reduced their stakes in MGNX. EcoR1 Capital LLC bought a new position in shares of MacroGenics during the second quarter worth about $1,939,000. Acadian Asset Management LLC lifted its position in 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 during the last quarter. Jefferies Financial Group Inc. bought a new stake in MacroGenics in the 4th quarter valued at about $2,964,000. Leonteq Securities AG acquired a new position in MacroGenics during the 4th quarter valued at about $161,000. Finally, AlphaCore Capital LLC acquired a new position in MacroGenics during the 4th quarter valued at about $61,000. 96.89% of the stock is currently owned by institutional investors.

MacroGenics Company Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.