MacroGenics (NASDAQ:MGNX) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday.

Other analysts have also recently issued reports about the stock. ValuEngine cut shares of MacroGenics from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. BTIG Research began coverage on shares of MacroGenics in a report on Monday, September 10th. They set a “buy” rating and a $30.00 price target for the company. Zacks Investment Research upgraded shares of MacroGenics from a “hold” rating to a “strong-buy” rating and set a $23.00 price target for the company in a report on Wednesday. HC Wainwright restated a “buy” rating and set a $34.00 price target on shares of MacroGenics in a report on Wednesday, August 8th. Finally, Cowen restated a “buy” rating on shares of MacroGenics in a report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $30.38.

MGNX stock opened at $18.91 on Friday. The company has a market cap of $905.57 million, a P/E ratio of -35.02 and a beta of 2.41. MacroGenics has a 52 week low of $16.12 and a 52 week high of $32.74.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.20) by $0.17. The business had revenue of $18.83 million during the quarter, compared to analysts’ expectations of $4.41 million. MacroGenics had a negative net margin of 19.20% and a negative return on equity of 13.01%. Analysts anticipate that MacroGenics will post -4.77 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of MGNX. SG Americas Securities LLC acquired a new stake in MacroGenics in the first quarter valued at approximately $119,000. JPMorgan Chase & Co. lifted its stake in MacroGenics by 23.7% in the first quarter. JPMorgan Chase & Co. now owns 32,262 shares of the biopharmaceutical company’s stock valued at $812,000 after acquiring an additional 6,178 shares during the last quarter. Citigroup Inc. lifted its stake in MacroGenics by 61.4% in the first quarter. Citigroup Inc. now owns 13,564 shares of the biopharmaceutical company’s stock valued at $341,000 after acquiring an additional 5,162 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in MacroGenics by 64.4% in the first quarter. Russell Investments Group Ltd. now owns 16,600 shares of the biopharmaceutical company’s stock valued at $418,000 after acquiring an additional 6,500 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in MacroGenics by 18.1% in the first quarter. Stifel Financial Corp now owns 19,766 shares of the biopharmaceutical company’s stock valued at $500,000 after acquiring an additional 3,033 shares during the last quarter. Hedge funds and other institutional investors own 92.84% of the company’s stock.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, focuses on the discovery and development of antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, as well as various autoimmune disorders and infectious diseases in the United States. The company's advanced clinical product candidate is Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets human epidermal growth factor receptor 2-expressing tumors, such as various breast and gastroesophageal cancers.

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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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