MacroGenics (NASDAQ:MGNX) Raised to Hold at Wall Street Zen

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

MGNX has been the topic of a number of other reports. HC Wainwright cut their price objective on MacroGenics from $4.00 to $2.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 25th. Stifel Nicolaus cut their target price on 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 target price on MacroGenics from $5.00 to $3.00 and set a "neutral" rating for the company in a research note on Tuesday, May 20th. Finally, Barclays restated an "overweight" rating and issued a $3.00 target price (down from $8.00) on shares of MacroGenics in a research note on Wednesday, May 14th. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, MacroGenics currently has a consensus rating of "Hold" and a consensus target price of $5.71.

MacroGenics Stock Up 2.2%

Shares of MGNX traded up $0.03 during midday trading on Friday, reaching $1.42. 27,968 shares of the stock were exchanged, compared to its average volume of 776,202. MacroGenics has a 12-month low of $0.99 and a 12-month high of $5.77. The firm has a 50 day simple moving average of $1.43 and a 200-day simple moving average of $2.40. The company has a market cap of $89.64 million, a price-to-earnings ratio of -0.90 and a beta of 2.20.

MacroGenics (NASDAQ:MGNX - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $9.59 million. Research analysts expect that MacroGenics will post -1.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MacroGenics

A number of institutional investors and hedge funds have recently bought and sold shares of MGNX. Strs Ohio bought a new stake in shares of MacroGenics during the first quarter worth $263,000. Acadian Asset Management LLC raised its position in shares of MacroGenics by 78.8% during the first quarter. Acadian Asset Management LLC now owns 2,308,649 shares of the biopharmaceutical company's stock worth $2,923,000 after acquiring an additional 1,017,726 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of MacroGenics by 456,243.3% during the first quarter. Jones Financial Companies Lllp now owns 136,903 shares of the biopharmaceutical company's stock worth $174,000 after acquiring an additional 136,873 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of MacroGenics by 17.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 665,351 shares of the biopharmaceutical company's stock worth $845,000 after acquiring an additional 99,447 shares during the last quarter. Finally, Amundi bought a new stake in shares of MacroGenics during the first quarter worth $272,000. Institutional investors and hedge funds own 96.89% of the company's stock.

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.