MacroGenics (MGNX) Rating Grow to Sell at BidaskClub

MacroGenics (MGNX) Rating Grow to Sell at BidaskClub

BidaskClub upgraded shares of MacroGenics (NASDAQ:MGNX) from a strong sell rating to a sell rating in a report published on Friday, October 19th.

Several other brokerages also recently commented on MGNX. Zacks Investment Research downgraded MacroGenics from a buy rating to a hold rating in a research note on Wednesday, October 17th. BTIG Research initiated coverage on MacroGenics in a research note on Monday, September 10th. They set a buy rating and a $30.00 target price for the company. Cowen reiterated a buy rating on shares of MacroGenics in a research note on Wednesday, August 8th. HC Wainwright reiterated a buy rating and set a $34.00 target price on shares of MacroGenics in a research note on Wednesday, August 8th. Finally, ValuEngine downgraded MacroGenics from a buy rating to a hold rating in a research note on Thursday, September 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $30.38.

Shares of NASDAQ:MGNX traded down $0.46 during trading on Friday, hitting $16.53. 172,100 shares of the company were exchanged, compared to its average volume of 297,542. The firm has a market capitalization of $717.61 million, a price-to-earnings ratio of -30.80 and a beta of 2.49. MacroGenics has a fifty-two week low of $15.48 and a fifty-two week high of $32.74.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($1.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.20) by $0.17. MacroGenics had a negative return on equity of 13.01% and a negative net margin of 19.20%. The company had revenue of $18.83 million during the quarter, compared to the consensus estimate of $4.41 million. As a group, equities research analysts forecast that MacroGenics will post -4.66 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the company. OppenheimerFunds Inc. lifted its position in shares of MacroGenics by 4.1% during the 2nd quarter. OppenheimerFunds Inc. now owns 4,109,540 shares of the biopharmaceutical company’s stock valued at $84,862,000 after acquiring an additional 160,170 shares during the period. BlackRock Inc. lifted its position in shares of MacroGenics by 17.5% during the 2nd quarter. BlackRock Inc. now owns 3,122,067 shares of the biopharmaceutical company’s stock valued at $64,472,000 after acquiring an additional 465,948 shares during the period. BB Biotech AG lifted its position in shares of MacroGenics by 2.3% during the 2nd quarter. BB Biotech AG now owns 2,660,412 shares of the biopharmaceutical company’s stock valued at $54,938,000 after acquiring an additional 60,000 shares during the period. Voya Investment Management LLC lifted its position in shares of MacroGenics by 149.2% during the 2nd quarter. Voya Investment Management LLC now owns 905,752 shares of the biopharmaceutical company’s stock valued at $18,703,000 after acquiring an additional 542,319 shares during the period. Finally, Millennium Management LLC lifted its position in shares of MacroGenics by 86.2% during the 1st quarter. Millennium Management LLC now owns 897,982 shares of the biopharmaceutical company’s stock valued at $22,593,000 after acquiring an additional 415,681 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

About MacroGenics

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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