MacroGenics (NASDAQ:MGNX) Upgraded by Wall Street Zen to "Hold" Rating

MacroGenics (NASDAQ:MGNX - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Several other research analysts have also commented on the stock. Barclays reaffirmed an "overweight" rating and set a $3.00 price objective (down from $8.00) on shares of MacroGenics in a research note on Wednesday, May 14th. HC Wainwright dropped their price objective on shares of MacroGenics from $4.00 to $2.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. B. Riley dropped their price objective on shares of MacroGenics from $5.00 to $3.00 and set a "neutral" rating for the company in a research note on Tuesday, May 20th. Finally, Stifel Nicolaus dropped their price objective on shares of MacroGenics from $6.00 to $5.00 and set a "hold" rating for the company in a research note on Wednesday, May 14th. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $5.71.

MacroGenics Stock Performance

Shares of MGNX opened at $1.78 on Friday. The company's fifty day moving average is $1.45 and its 200 day moving average is $2.37. MacroGenics has a fifty-two week low of $0.99 and a fifty-two week high of $5.77. The stock has a market capitalization of $112.30 million, a PE ratio of -1.13 and a beta of 1.65.

MacroGenics (NASDAQ:MGNX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.04). The firm had revenue of $13.19 million for the quarter, compared to analysts' expectations of $9.59 million. MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. As a group, research analysts forecast that MacroGenics will post -1.06 earnings per share for the current year.

Institutional Trading of MacroGenics

A number of large investors have recently made changes to their positions in MGNX. SG Americas Securities LLC lifted its stake in MacroGenics by 104.5% in the fourth quarter. SG Americas Securities LLC now owns 34,399 shares of the biopharmaceutical company's stock worth $112,000 after acquiring an additional 17,577 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in MacroGenics by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,185 shares of the biopharmaceutical company's stock worth $1,713,000 after acquiring an additional 34,420 shares during the period. SPC Financial Inc. purchased a new stake in MacroGenics in the fourth quarter worth about $123,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in MacroGenics by 12.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,902 shares of the biopharmaceutical company's stock worth $2,421,000 after acquiring an additional 82,988 shares during the period. Finally, Kazazian Asset Management LLC purchased a new stake in MacroGenics in the fourth quarter worth about $137,000. 96.89% of the stock is owned by hedge funds and other institutional investors.

About MacroGenics

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.

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