MacroGenics (MGNX) Stock Rating Lowered by TheStreet

TheStreet lowered shares of MacroGenics (NASDAQ:MGNX) from a c rating to a d+ rating in a research note issued to investors on Wednesday.

Other equities research analysts have also issued reports about the stock. BidaskClub upgraded shares of MacroGenics from a hold rating to a buy rating in a research report on Thursday, March 8th. HC Wainwright started coverage on shares of MacroGenics in a research report on Monday, March 5th. They set a buy rating and a $38.00 target price for the company. Cowen reiterated a buy rating on shares of MacroGenics in a research report on Wednesday, January 24th. SunTrust Banks reiterated a buy rating and set a $31.00 target price on shares of MacroGenics in a research report on Tuesday, January 23rd. Finally, BTIG Research reiterated a buy rating and set a $28.00 target price on shares of MacroGenics in a research report on Tuesday, January 23rd. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $30.63.

Shares of MacroGenics opened at $21.81 on Wednesday, MarketBeat Ratings reports. MacroGenics has a 1 year low of $14.36 and a 1 year high of $32.74. The company has a market cap of $920.85 million, a price-to-earnings ratio of -40.39 and a beta of 2.47.



MacroGenics (NASDAQ:MGNX) last announced its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.22. MacroGenics had a negative net margin of 19.64% and a negative return on equity of 13.03%. The business had revenue of $152.36 million during the quarter, compared to analyst estimates of $152.59 million. equities research analysts anticipate that MacroGenics will post -4.78 EPS for the current year.

In other MacroGenics news, SVP Eric Blasius Risser sold 1,000 shares of MacroGenics stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $31.08, for a total transaction of $31,080.00. Following the transaction, the senior vice president now directly owns 10,100 shares of the company’s stock, valued at $313,908. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Lynn Cilinski sold 23,967 shares of MacroGenics stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $25.01, for a total transaction of $599,414.67. The disclosure for this sale can be found here. Insiders have sold 34,967 shares of company stock worth $930,505 over the last three months. Insiders own 8.82% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in shares of MacroGenics during the first quarter worth approximately $119,000. Alambic Investment Management L.P. purchased a new position in shares of MacroGenics during the first quarter worth approximately $215,000. Teacher Retirement System of Texas purchased a new position in shares of MacroGenics during the fourth quarter worth approximately $225,000. MetLife Investment Advisors LLC purchased a new position in shares of MacroGenics during the fourth quarter worth approximately $281,000. Finally, Citigroup Inc. raised its stake in shares of MacroGenics by 61.4% during the first quarter. Citigroup Inc. now owns 13,564 shares of the biopharmaceutical company’s stock worth $341,000 after acquiring an additional 5,162 shares in the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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