MacroGenics (NASDAQ:MGNX) Stock Rating Upgraded by Zacks Research

MacroGenics (NASDAQ:MGNX) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

A number of other research analysts also recently issued reports on MGNX. Weiss Ratings reissued a “sell (e+)” rating on shares of MacroGenics in a research report on Wednesday, October 8th. Wall Street Zen cut shares of MacroGenics from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Leerink Partners lowered their price objective on shares of MacroGenics from $8.00 to $5.00 and set an “outperform” rating for the company in a report on Friday, August 15th. Barclays began coverage on MacroGenics in a research report on Wednesday, September 17th. They set an “overweight” rating and a $3.00 price objective on the stock. Finally, HC Wainwright restated a “neutral” rating and issued a $2.00 target price on shares of MacroGenics in a research note on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3.60.

MacroGenics Price Performance

MGNX traded down $0.10 during midday trading on Thursday, reaching $1.50. 1,801,448 shares of the company’s stock traded hands, compared to its average volume of 896,834. MacroGenics has a 52 week low of $0.99 and a 52 week high of $3.84. The firm has a fifty day moving average of $1.66 and a two-hundred day moving average of $1.59. The stock has a market capitalization of $94.81 million, a price-to-earnings ratio of -2.63 and a beta of 1.55.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Wednesday, November 12th. The biopharmaceutical company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.75. The firm had revenue of $72.84 million for the quarter, compared to analysts’ expectations of $28.72 million. MacroGenics had a negative return on equity of 40.24% and a negative net margin of 21.99%. Sell-side analysts forecast that MacroGenics will post -1.06 EPS for the current year.

Insiders Place Their Bets

In related news, Director William K. Heiden acquired 50,500 shares of the stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $1.52 per share, for a total transaction of $76,760.00. Following the completion of the purchase, the director owned 61,500 shares of the company’s stock, valued at $93,480. This represents a 459.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MacroGenics

Several institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP raised its stake in MacroGenics by 81.9% during the 1st quarter. GSA Capital Partners LLP now owns 448,530 shares of the biopharmaceutical company’s stock valued at $570,000 after buying an additional 201,926 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of MacroGenics by 3,803.2% in the first quarter. Deutsche Bank AG now owns 51,093 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 49,784 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of MacroGenics by 9.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 816,054 shares of the biopharmaceutical company’s stock worth $1,036,000 after acquiring an additional 71,152 shares during the period. Invesco Ltd. lifted its holdings in MacroGenics by 90.0% in the first quarter. Invesco Ltd. now owns 68,377 shares of the biopharmaceutical company’s stock valued at $87,000 after acquiring an additional 32,398 shares during the period. Finally, Nuveen LLC bought a new position in MacroGenics in the first quarter valued at about $252,000. 96.89% of the stock is currently owned by institutional investors.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.