MacroGenics (MGNX) Upgraded to “Sell” by BidaskClub

MacroGenics (NASDAQ:MGNX) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Several other research analysts have also recently weighed in on MGNX. Zacks Investment Research cut shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine cut shares of MacroGenics from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 14th. Citigroup upped their price target on shares of MacroGenics from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 10th. Wedbush reiterated an “outperform” rating and issued a $44.00 price target on shares of MacroGenics in a report on Monday, September 11th. Finally, Raymond James Financial reiterated a “buy” rating on shares of MacroGenics in a report on Monday, December 11th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.10.

Shares of MacroGenics (MGNX) traded up $0.08 during midday trading on Friday, reaching $19.93. 156,963 shares of the company were exchanged, compared to its average volume of 193,977. The firm has a market capitalization of $733.88, a PE ratio of -4.43 and a beta of 2.73. MacroGenics has a 52-week low of $14.36 and a 52-week high of $22.31.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.09) by ($0.19). The firm had revenue of $1.70 million for the quarter, compared to analyst estimates of $5.50 million. MacroGenics had a negative net margin of 1,526.55% and a negative return on equity of 69.31%. The firm’s revenue for the quarter was down 48.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.97) EPS. equities research analysts predict that MacroGenics will post -0.7 earnings per share for the current fiscal year.

In related news, SVP Jon Marc Wigginton sold 5,000 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the completion of the transaction, the senior vice president now owns 35,000 shares in the company, valued at $700,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc boosted its holdings in MacroGenics by 4.3% during the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock worth $138,000 after purchasing an additional 328 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in MacroGenics by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 26,485 shares of the biopharmaceutical company’s stock worth $463,000 after purchasing an additional 743 shares during the last quarter. Cornerstone Capital Management Holdings LLC. boosted its holdings in MacroGenics by 3.8% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 23,238 shares of the biopharmaceutical company’s stock worth $406,000 after purchasing an additional 848 shares during the last quarter. Citigroup Inc. boosted its holdings in MacroGenics by 8.4% during the second quarter. Citigroup Inc. now owns 18,975 shares of the biopharmaceutical company’s stock worth $332,000 after purchasing an additional 1,466 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in MacroGenics by 2.2% during the second quarter. TIAA CREF Investment Management LLC now owns 88,299 shares of the biopharmaceutical company’s stock worth $1,546,000 after purchasing an additional 1,859 shares during the last quarter. Institutional investors and hedge funds own 85.77% of the company’s stock.

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MacroGenics Company Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.

Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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