MacroGenics, Inc. (NASDAQ:MGNX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, July 18th. The firm currently has a $19.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 17.00% from the company’s previous close.
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. “
Several other analysts also recently weighed in on MGNX. Raymond James Financial, Inc. initiated coverage on MacroGenics in a research note on Friday, March 31st. They set an “outperform” rating and a $26.00 target price on the stock. Morgan Stanley decreased their target price on MacroGenics from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, May 8th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $32.30.
Shares of MacroGenics (MGNX) traded up 2.59% on Tuesday, reaching $16.24. 125,238 shares of the company’s stock traded hands. The firm’s market capitalization is $597.60 million. MacroGenics has a 52 week low of $14.36 and a 52 week high of $33.30. The firm’s 50 day moving average is $17.36 and its 200 day moving average is $18.72.
MacroGenics (NASDAQ:MGNX) last announced its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($1.05) by $0.09. The business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $15.82 million. MacroGenics had a negative net margin of 1,216.51% and a negative return on equity of 56.81%. The firm’s revenue was down 97.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 EPS. Analysts expect that MacroGenics will post ($4.36) earnings per share for the current fiscal year.
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In related news, SVP Jon Marc Wigginton sold 5,000 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $20.00, for a total transaction of $100,000.00. Following the completion of the transaction, the senior vice president now owns 35,000 shares of the company’s stock, valued at approximately $700,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.30% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in MGNX. Russell Investments Group Ltd. acquired a new stake in MacroGenics during the second quarter worth approximately $133,000. Legal & General Group Plc increased its position in MacroGenics by 4.3% in the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock valued at $138,000 after buying an additional 328 shares in the last quarter. SG Americas Securities LLC increased its position in MacroGenics by 92.2% in the second quarter. SG Americas Securities LLC now owns 10,812 shares of the biopharmaceutical company’s stock valued at $189,000 after buying an additional 5,187 shares in the last quarter. Parametric Portfolio Associates LLC purchased a new position in MacroGenics during the second quarter valued at about $203,000. Finally, Virtu KCG Holdings LLC purchased a new position in MacroGenics during the second quarter valued at about $232,000. Institutional investors and hedge funds own 82.34% of the company’s stock.
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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