MacroGenics (MGNX) Rating Lowered to Hold at Zacks Investment Research

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MacroGenics (NASDAQ:MGNX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.

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 equities analysts have also recently weighed in on the company. HC Wainwright set a $34.00 price target on MacroGenics and gave the company a “buy” rating in a research report on Monday, June 4th. ValuEngine upgraded MacroGenics from a “hold” rating to a “buy” rating in a research report on Saturday, May 26th. Evercore ISI initiated coverage on MacroGenics in a research report on Thursday, May 31st. They issued an “outperform” rating and a $33.00 price target for the company. BidaskClub cut MacroGenics from a “buy” rating to a “hold” rating in a research report on Wednesday, June 13th. Finally, TheStreet cut MacroGenics from a “c” rating to a “d+” rating in a research report on Wednesday, May 23rd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. MacroGenics has an average rating of “Buy” and a consensus target price of $30.67.

NASDAQ:MGNX opened at $21.33 on Friday. MacroGenics has a 1 year low of $15.33 and a 1 year high of $32.74. The firm has a market capitalization of $885.30 million, a price-to-earnings ratio of -39.50 and a beta of 2.41.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($1.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.20) by $0.17. The company had revenue of $18.83 million during the quarter, compared to analysts’ expectations of $4.41 million. MacroGenics had a negative return on equity of 13.01% and a negative net margin of 19.20%. equities analysts predict that MacroGenics will post -4.72 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC grew 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 worth $2,494,000 after buying an additional 43,101 shares in the last quarter. Deutsche Bank AG grew its position in MacroGenics by 83.3% during the fourth quarter. Deutsche Bank AG now owns 221,852 shares of the biopharmaceutical company’s stock worth $4,213,000 after buying an additional 100,834 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in MacroGenics during the fourth quarter worth about $281,000. Stifel Financial Corp grew its position in MacroGenics by 18.1% during the first quarter. Stifel Financial Corp now owns 19,766 shares of the biopharmaceutical company’s stock worth $500,000 after buying an additional 3,033 shares in the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new position in MacroGenics during the first quarter worth about $1,197,000. Institutional investors and hedge funds own 89.51% 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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