BidaskClub upgraded shares of MacroGenics (NASDAQ:MGNX) from a sell rating to a hold rating in a report released on Saturday, May 19th.
Several other analysts also recently issued reports on MGNX. Zacks Investment Research downgraded MacroGenics from a hold rating to a sell rating in a research note on Friday, February 23rd. Morgan Stanley restated an equal weight rating and issued a $26.00 price objective (up previously from $18.00) on shares of MacroGenics in a report on Wednesday, March 14th. HC Wainwright began coverage on MacroGenics in a report on Monday, March 5th. They issued a buy rating and a $38.00 price objective for the company. ValuEngine upgraded MacroGenics from a sell rating to a hold rating in a report on Thursday, March 1st. Finally, BTIG Research reiterated a buy rating and set a $28.00 price target on shares of MacroGenics in a report on Tuesday, January 23rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $30.89.
MacroGenics stock traded up $0.54 during trading hours on Friday, hitting $22.50. The stock had a trading volume of 234,000 shares, compared to its average volume of 335,039. The stock has a market cap of $929.29 million, a price-to-earnings ratio of -41.69 and a beta of 2.45. MacroGenics has a fifty-two week low of $14.36 and a fifty-two week high of $32.74.
MacroGenics (NASDAQ:MGNX) last issued its earnings results on Monday, May 7th. The biopharmaceutical company reported ($1.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.08) by ($0.26). The company had revenue of $4.70 million during the quarter, compared to analyst estimates of $7.46 million. MacroGenics had a negative return on equity of 13.03% and a negative net margin of 19.64%. sell-side analysts expect that MacroGenics will post -4.78 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. grew its stake in shares of MacroGenics by 3.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 175,106 shares of the biopharmaceutical company’s stock worth $3,328,000 after buying an additional 6,118 shares during the last quarter. OppenheimerFunds Inc. grew its stake in shares of MacroGenics by 10.8% in the fourth quarter. OppenheimerFunds Inc. now owns 3,933,906 shares of the biopharmaceutical company’s stock worth $74,744,000 after purchasing an additional 384,861 shares during the last quarter. Candriam Luxembourg S.C.A. bought a new stake in MacroGenics during the fourth quarter valued at $1,425,000. Wells Fargo & Company MN boosted its position in MacroGenics by 11.5% during the third quarter. Wells Fargo & Company MN now owns 27,714 shares of the biopharmaceutical company’s stock valued at $513,000 after acquiring an additional 2,862 shares during the last quarter. Finally, Citadel Advisors LLC boosted its position in MacroGenics by 76.9% during the first quarter. Citadel Advisors LLC now owns 99,130 shares of the biopharmaceutical company’s stock valued at $2,494,000 after acquiring an additional 43,101 shares during the last quarter. 89.43% of the stock is currently owned by hedge funds and other institutional investors.
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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