A number of other brokerages have also issued reports on MGNX. Zacks Investment Research upgraded MacroGenics from a sell rating to a hold rating and set a $19.00 target price on the stock in a research report on Tuesday, July 18th. Cowen and Company restated a buy rating on shares of MacroGenics in a report on Friday, August 4th. BidaskClub lowered MacroGenics from a sell rating to a strong sell rating in a report on Saturday, August 12th. Morgan Stanley decreased their price objective on MacroGenics from $22.00 to $21.00 and set an equal weight rating on the stock in a report on Monday, August 7th. Finally, ValuEngine upgraded MacroGenics from a strong sell rating to a sell rating in a report on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $30.30.
MacroGenics (NASDAQ MGNX) opened at 17.12 on Monday. The stock’s market capitalization is $629.98 million. MacroGenics has a 12-month low of $14.36 and a 12-month high of $32.68. The company has a 50-day moving average price of $17.00 and a 200-day moving average price of $18.41.
MacroGenics (NASDAQ:MGNX) last announced its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.09). MacroGenics had a negative net margin of 1,216.51% and a negative return on equity of 56.81%. The business had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $15.82 million. During the same quarter last year, the business earned $1.12 EPS. The company’s quarterly revenue was down 97.9% on a year-over-year basis. Analysts expect that MacroGenics will post ($4.42) earnings per share for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in shares of MacroGenics by 6.0% in the 2nd quarter. FMR LLC now owns 5,238,917 shares of the biopharmaceutical company’s stock worth $91,733,000 after acquiring an additional 295,553 shares during the last quarter. OppenheimerFunds Inc. increased its stake in shares of MacroGenics by 9.4% in the 1st quarter. OppenheimerFunds Inc. now owns 3,323,025 shares of the biopharmaceutical company’s stock worth $61,808,000 after acquiring an additional 286,018 shares during the last quarter. BB Biotech AG increased its stake in shares of MacroGenics by 4.0% in the 2nd quarter. BB Biotech AG now owns 2,350,112 shares of the biopharmaceutical company’s stock worth $41,150,000 after acquiring an additional 90,112 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of MacroGenics by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,391,322 shares of the biopharmaceutical company’s stock worth $24,362,000 after acquiring an additional 38,458 shares during the last quarter. Finally, Wasatch Advisors Inc. increased its stake in shares of MacroGenics by 5,159.3% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,044,243 shares of the biopharmaceutical company’s stock worth $18,285,000 after acquiring an additional 1,024,388 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.
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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