Wall Street Zen Upgrades MacroGenics (NASDAQ:MGNX) to Hold

Wall Street Zen upgraded shares of MacroGenics (NASDAQ:MGNX - Free Report) from a sell rating to a hold rating in a research note released on Saturday morning.

Several other equities analysts have also weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of MacroGenics from $6.00 to $5.00 and set a "hold" rating on the stock in a report on Wednesday, May 14th. HC Wainwright lowered their target price on shares of MacroGenics from $4.00 to $2.00 and set a "neutral" rating on the stock in a report on Tuesday, March 25th. Barclays restated an "overweight" rating and issued a $3.00 target price (down previously from $8.00) on shares of MacroGenics in a report on Wednesday, May 14th. Finally, B. Riley lowered their target price on shares of MacroGenics from $5.00 to $3.00 and set a "neutral" rating on the stock in a report on Tuesday, May 20th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, MacroGenics has a consensus rating of "Hold" and a consensus target price of $5.71.

MacroGenics Stock Performance

Shares of NASDAQ MGNX traded up $0.14 during trading on Friday, hitting $1.78. 25,796,841 shares of the company traded hands, compared to its average volume of 852,182. The business's fifty day moving average is $1.47 and its 200 day moving average is $2.34. MacroGenics has a fifty-two week low of $0.99 and a fifty-two week high of $5.77. The firm has a market capitalization of $112.30 million, a price-to-earnings ratio of -1.13 and a beta of 1.65.

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

Institutional Investors Weigh In On MacroGenics

A number of institutional investors have recently added to or reduced their stakes in MGNX. Acadian Asset Management LLC grew its position in MacroGenics by 78.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,308,649 shares of the biopharmaceutical company's stock worth $2,923,000 after purchasing an additional 1,017,726 shares in the last quarter. Wasatch Advisors LP grew its position in MacroGenics by 37.6% in the 4th quarter. Wasatch Advisors LP now owns 3,488,493 shares of the biopharmaceutical company's stock worth $11,338,000 after purchasing an additional 952,691 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in MacroGenics in the 4th quarter worth about $2,787,000. JPMorgan Chase & Co. grew its position in MacroGenics by 68.3% in the 4th quarter. JPMorgan Chase & Co. now owns 546,807 shares of the biopharmaceutical company's stock worth $1,777,000 after purchasing an additional 221,905 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in MacroGenics by 69.1% in the 4th quarter. Renaissance Technologies LLC now owns 538,523 shares of the biopharmaceutical company's stock worth $1,750,000 after purchasing an additional 220,100 shares in the last quarter. 96.89% of the stock is owned by institutional investors.

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.