MacroGenics (NASDAQ:MGNX) Downgraded by ValuEngine

ValuEngine cut shares of MacroGenics (NASDAQ:MGNX) from a buy rating to a hold rating in a research note published on Monday morning, ValuEngine reports.

Several other research firms have also recently commented on MGNX. HC Wainwright reaffirmed a neutral rating on shares of Syros Pharmaceuticals in a report on Thursday, May 2nd. Cowen set a $27.00 price target on Puma Biotechnology and gave the stock a hold rating in a research report on Wednesday, June 5th. Morgan Stanley reiterated a top pick rating on shares of in a research report on Wednesday, June 5th. Credit Suisse Group restated an underperform rating on shares of MARKS & SPENCER/S in a research report on Wednesday, April 17th. Finally, BidaskClub downgraded Extraction Oil & Gas from a hold rating to a sell rating in a research note on Saturday, May 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $31.62.

Shares of MacroGenics stock traded down $0.11 on Monday, reaching $15.98. 13,049 shares of the company were exchanged, compared to its average volume of 1,118,829. The stock has a market cap of $788.71 million, a price-to-earnings ratio of -3.81 and a beta of 2.38. MacroGenics has a fifty-two week low of $9.87 and a fifty-two week high of $32.32. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.47 and a quick ratio of 6.47. The business has a fifty day simple moving average of $16.68.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.04). MacroGenics had a negative net margin of 256.47% and a negative return on equity of 57.65%. The firm had revenue of $9.66 million during the quarter, compared to analysts’ expectations of $11.46 million. As a group, research analysts anticipate that MacroGenics will post -3.75 EPS for the current year.

In other news, SVP Eric Blasius Risser sold 3,000 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $18.38, for a total transaction of $55,140.00. Following the transaction, the senior vice president now owns 33,806 shares in the company, valued at $621,354.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.88% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Marshall Wace North America L.P. bought a new position in shares of MacroGenics during the 1st quarter valued at approximately $59,000. Acadian Asset Management LLC purchased a new stake in shares of MacroGenics during the 4th quarter valued at $65,000. Pearl River Capital LLC purchased a new stake in shares of MacroGenics during the 1st quarter valued at $74,000. Great West Life Assurance Co. Can raised its position in shares of MacroGenics by 148.6% during the 4th quarter. Great West Life Assurance Co. Can now owns 6,215 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 3,715 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in MacroGenics in the 1st quarter worth $80,000. Hedge funds and other institutional investors own 90.52% of the company’s stock.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.

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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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