MacroGenics (NASDAQ:MGNX) Downgraded to Market Perform at BMO Capital Markets

MacroGenics (NASDAQ:MGNX) was downgraded by equities research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports. They currently have a $8.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $24.00. BMO Capital Markets’ price target indicates a potential downside of 45.47% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. B. Riley initiated coverage on shares of MacroGenics in a research note on Friday, April 26th. They set a “buy” rating and a $25.00 target price on the stock. HC Wainwright lowered shares of MacroGenics from a “buy” rating to a “neutral” rating and raised their price objective for the company from $12.00 to $14.00 in a research note on Wednesday, February 14th. BTIG Research upped their target price on MacroGenics from $12.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Barclays lifted their price target on MacroGenics from $12.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, Stifel Nicolaus lowered MacroGenics from a “buy” rating to a “hold” rating and cut their price objective for the company from $29.00 to $7.00 in a report on Friday. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.78.

MacroGenics Price Performance

MGNX opened at $14.67 on Friday. The stock’s 50 day moving average price is $16.31 and its 200 day moving average price is $12.62. The stock has a market cap of $917.77 million, a P/E ratio of -91.69 and a beta of 2.09. MacroGenics has a 12 month low of $4.29 and a 12 month high of $21.88.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.17). MacroGenics had a negative return on equity of 88.49% and a negative net margin of 15.42%. The business had revenue of $9.10 million during the quarter, compared to the consensus estimate of $13.63 million. Equities analysts anticipate that MacroGenics will post -2.7 EPS for the current year.

Insider Transactions at MacroGenics

In other news, VP Jeffrey Stuart Peters sold 16,124 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $17.22, for a total transaction of $277,655.28. Following the completion of the sale, the vice president now directly owns 8,895 shares of the company’s stock, valued at $153,171.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 11.30% of the stock is owned by insiders.

Institutional Trading of MacroGenics

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of MacroGenics in the third quarter worth approximately $97,000. Strs Ohio boosted its stake in MacroGenics by 59.7% in the 3rd quarter. Strs Ohio now owns 112,400 shares of the biopharmaceutical company’s stock worth $523,000 after purchasing an additional 42,000 shares during the period. Principal Financial Group Inc. grew its position in MacroGenics by 0.9% during the 3rd quarter. Principal Financial Group Inc. now owns 275,550 shares of the biopharmaceutical company’s stock worth $1,284,000 after purchasing an additional 2,335 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in MacroGenics during the 3rd quarter valued at $281,000. Finally, Barclays PLC raised its stake in MacroGenics by 15.2% during the 3rd quarter. Barclays PLC now owns 134,273 shares of the biopharmaceutical company’s stock valued at $624,000 after purchasing an additional 17,733 shares during the period. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.