MacroGenics (MGNX) Rating Reiterated by Raymond James Financial
MacroGenics (NASDAQ:MGNX)‘s stock had its “buy” rating reissued by research analysts at Raymond James Financial in a note issued to investors on Monday.
Several other analysts also recently weighed in on MGNX. BidaskClub upgraded MacroGenics from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. SunTrust Banks restated a “buy” rating and set a $26.00 target price on shares of MacroGenics in a research note on Friday, September 1st. ValuEngine upgraded MacroGenics from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Wedbush restated an “outperform” rating and set a $44.00 target price on shares of MacroGenics in a research note on Monday, September 11th. Finally, Stifel Nicolaus restated a “buy” rating and set a $34.00 target price on shares of MacroGenics in a research note on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. MacroGenics currently has a consensus rating of “Buy” and a consensus target price of $30.10.
Shares of MacroGenics (NASDAQ:MGNX) opened at $18.48 on Monday. MacroGenics has a 52 week low of $14.36 and a 52 week high of $26.12.
MacroGenics (NASDAQ:MGNX) last announced its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.19). MacroGenics had a negative net margin of 1,526.55% and a negative return on equity of 69.31%. The business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $5.50 million. During the same quarter in the previous year, the company earned ($0.97) EPS. MacroGenics’s revenue for the quarter was down 48.5% compared to the same quarter last year. equities research analysts forecast that MacroGenics will post -0.7 EPS for the current year.
In other MacroGenics news, SVP Jon Marc Wigginton sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the sale, the senior vice president now owns 35,000 shares in the company, valued at approximately $700,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.30% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. bought a new stake in shares of MacroGenics in the 2nd quarter worth approximately $133,000. Legal & General Group Plc lifted its position in shares of MacroGenics by 4.3% in the 2nd quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock worth $138,000 after acquiring an additional 328 shares during the period. SG Americas Securities LLC lifted its position in shares of MacroGenics by 92.2% in the 2nd quarter. SG Americas Securities LLC now owns 10,812 shares of the biopharmaceutical company’s stock worth $189,000 after acquiring an additional 5,187 shares during the period. Parametric Portfolio Associates LLC acquired a new position in shares of MacroGenics in the 2nd quarter worth approximately $203,000. Finally, Virtu KCG Holdings LLC acquired a new position in shares of MacroGenics in the 2nd quarter worth approximately $232,000. Institutional investors own 85.81% 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.
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