Zacks Investment Research downgraded shares of MacroGenics (NASDAQ:MGNX) from a hold rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “MacroGenics Inc. is a biopharmaceutical company. It is focused on discovering and developing innovative monoclonal antibody-based therapeutics. The Company has a diverse portfolio of product candidates focused in three therapeutic areas: oncology, autoimmune disorders and infectious diseases. MacroGenics Inc. is headquartered in Rockville, Maryland. “

MGNX has been the subject of several other research reports. Cowen set a $27.00 price objective on Puma Biotechnology and gave the company a hold rating in a report on Wednesday, June 5th. HC Wainwright restated a neutral rating on shares of Syros Pharmaceuticals in a report on Thursday, May 2nd. Guggenheim downgraded Anadarko Petroleum from a buy rating to a hold rating and set a $69.00 price objective for the company. in a report on Friday, April 12th. ValuEngine downgraded Intersect ENT from a buy rating to a hold rating in a report on Monday, July 8th. Finally, Credit Suisse Group restated an underperform rating on shares of MARKS & SPENCER/S in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $31.62.

Shares of MGNX opened at $15.87 on Wednesday. MacroGenics has a 52-week low of $9.87 and a 52-week high of $32.32. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 0.08. The firm has a 50 day simple moving average of $16.58.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by ($0.04). MacroGenics had a negative net margin of 256.47% and a negative return on equity of 57.65%. The business had revenue of $9.66 million during the quarter, compared to analyst estimates of $11.46 million. Equities analysts predict that MacroGenics will post -3.75 earnings per share for the current year.

In other news, SVP Eric Blasius Risser sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $18.54, for a total transaction of $74,160.00. Following the completion of the sale, the senior vice president now owns 33,806 shares in the company, valued at $626,763.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 7.88% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGNX. Marshall Wace North America L.P. bought a new stake in MacroGenics during the first quarter worth $59,000. Pearl River Capital LLC bought a new stake in MacroGenics during the first quarter worth $74,000. Marshall Wace LLP bought a new stake in MacroGenics during the first quarter worth $80,000. Bank of Montreal Can grew its holdings in MacroGenics by 804.2% during the first quarter. Bank of Montreal Can now owns 5,000 shares of the biopharmaceutical company’s stock worth $90,000 after buying an additional 4,447 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in MacroGenics during the fourth quarter worth $65,000. Hedge funds and other institutional investors own 90.52% of the company’s stock.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.

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