MacroGenics (MGNX) Rating Lowered to Hold at ValuEngine

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MacroGenics (NASDAQ:MGNX) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Other analysts have also issued reports about the company. HC Wainwright reiterated a “buy” rating and issued a $34.00 price objective on shares of MacroGenics in a research report on Wednesday, August 8th. Zacks Investment Research upgraded MacroGenics from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Wednesday, July 18th. BidaskClub upgraded MacroGenics from a “hold” rating to a “buy” rating in a research report on Friday, June 22nd. Cowen restated a “buy” rating on shares of MacroGenics in a research report on Wednesday, August 8th. Finally, TheStreet lowered MacroGenics from a “c” rating to a “d+” rating in a research report on Wednesday, May 23rd. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $30.67.

Shares of MGNX stock opened at $21.33 on Thursday. The stock has a market capitalization of $923.73 million, a P/E ratio of -39.50 and a beta of 2.41. MacroGenics has a 12 month low of $16.12 and a 12 month high of $32.74.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($1.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.20) by $0.17. The firm had revenue of $18.83 million during the quarter, compared to analyst estimates of $4.41 million. MacroGenics had a negative return on equity of 13.01% and a negative net margin of 19.20%. analysts anticipate that MacroGenics will post -4.77 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Granahan Investment Management Inc. MA grew its position in shares of MacroGenics by 9.5% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 239,991 shares of the biopharmaceutical company’s stock worth $4,956,000 after buying an additional 20,727 shares during the period. MetLife Investment Advisors LLC grew its position in shares of MacroGenics by 26.1% in the 2nd quarter. MetLife Investment Advisors LLC now owns 18,661 shares of the biopharmaceutical company’s stock valued at $385,000 after purchasing an additional 3,858 shares during the period. Metropolitan Life Insurance Co. NY grew its position in shares of MacroGenics by 33.7% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 13,178 shares of the biopharmaceutical company’s stock valued at $272,000 after purchasing an additional 3,323 shares during the period. Vident Investment Advisory LLC grew its position in shares of MacroGenics by 24.2% in the 2nd quarter. Vident Investment Advisory LLC now owns 111,449 shares of the biopharmaceutical company’s stock valued at $2,301,000 after purchasing an additional 21,716 shares during the period. Finally, Bank of America Corp DE grew its position in shares of MacroGenics by 41.8% in the 2nd quarter. Bank of America Corp DE now owns 36,239 shares of the biopharmaceutical company’s stock valued at $748,000 after purchasing an additional 10,685 shares during the period. Institutional investors own 92.84% 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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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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