MacroGenics (NASDAQ:MGNX) Stock Rating Upgraded by Wall Street Zen

MacroGenics (NASDAQ:MGNX - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

MGNX has been the subject of a number of other research reports. HC Wainwright decreased their target price on shares of MacroGenics from $4.00 to $2.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. Stifel Nicolaus lowered their target price 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. B. Riley cut their price target on shares of MacroGenics from $5.00 to $3.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 20th. Finally, Barclays reaffirmed an "overweight" rating and issued a $3.00 price target (down previously from $8.00) on shares of MacroGenics in a report on Wednesday, May 14th. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, MacroGenics has an average rating of "Hold" and a consensus price target of $5.71.

MacroGenics Price Performance

NASDAQ MGNX traded up $0.03 during midday trading on Friday, hitting $1.61. 764,998 shares of the company traded hands, compared to its average volume of 849,087. MacroGenics has a 52 week low of $0.99 and a 52 week high of $5.77. The company's 50-day simple moving average is $1.48 and its 200-day simple moving average is $2.02. The company has a market cap of $101.57 million, a PE ratio of -1.81 and a beta of 1.59.

MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.04). MacroGenics had a negative return on equity of 59.84% and a negative net margin of 36.23%. The firm had revenue of $13.19 million during the quarter, compared to the consensus estimate of $9.59 million. On average, research analysts predict that MacroGenics will post -1.06 earnings per share for the current year.

Institutional Investors Weigh In On MacroGenics

Several hedge funds have recently added to or reduced their stakes in MGNX. Acadian Asset Management LLC raised its stake in shares of MacroGenics by 78.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,308,649 shares of the biopharmaceutical company's stock valued at $2,923,000 after buying an additional 1,017,726 shares during the last quarter. Wasatch Advisors LP raised its position in MacroGenics by 37.6% during the fourth quarter. Wasatch Advisors LP now owns 3,488,493 shares of the biopharmaceutical company's stock valued at $11,338,000 after acquiring an additional 952,691 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in MacroGenics during the fourth quarter valued at approximately $2,787,000. JPMorgan Chase & Co. lifted its holdings in MacroGenics by 68.3% in the fourth quarter. JPMorgan Chase & Co. now owns 546,807 shares of the biopharmaceutical company's stock valued at $1,777,000 after acquiring an additional 221,905 shares during the period. Finally, Renaissance Technologies LLC boosted 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 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.