MacroGenics (NASDAQ:MGNX) Downgraded by BMO Capital Markets to Market Perform

MacroGenics (NASDAQ:MGNX - Get Free Report) was downgraded by analysts at BMO Capital Markets from an "outperform" rating to a "market perform" rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. They presently have a $8.00 target price on the biopharmaceutical company's stock, down from their previous target price of $24.00. BMO Capital Markets' target price points to a potential upside of 141.69% from the company's current price.

A number of other research analysts also recently weighed in on the company. BTIG Research lifted their price target on MacroGenics from $12.00 to $24.00 and gave the company a "buy" rating in a report on Monday, March 4th. JMP Securities reiterated a "market outperform" rating on shares of MacroGenics in a report on Thursday, April 4th. HC Wainwright lowered MacroGenics from a "buy" rating to a "neutral" rating and upped their target price for the stock from $12.00 to $14.00 in a research report on Wednesday, February 14th. Barclays upped their target price on MacroGenics from $12.00 to $23.00 and gave the stock an "overweight" rating in a research report on Thursday, February 29th. Finally, Stifel Nicolaus lowered MacroGenics from a "buy" rating to a "hold" rating and dropped their target price for the stock from $29.00 to $7.00 in a research report on Friday. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $14.78.

MacroGenics Stock Down 77.4 %

Shares of MacroGenics stock traded down $11.36 on Friday, reaching $3.31. 35,032,062 shares of the company were exchanged, compared to its average volume of 840,062. The stock has a fifty day moving average price of $16.31 and a 200-day moving average price of $12.62. MacroGenics has a fifty-two week low of $3.14 and a fifty-two week high of $21.88.

MacroGenics (NASDAQ:MGNX - Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.17). MacroGenics had a negative net margin of 15.42% and a negative return on equity of 88.49%. The business had revenue of $9.10 million for the quarter, compared to analysts' expectations of $13.63 million. Equities analysts anticipate that MacroGenics will post -2.7 earnings per share for the current year.

Insider Transactions at MacroGenics

In other news, VP Jeffrey Stuart Peters sold 51,395 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $15.55, for a total value of $799,192.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MacroGenics

Hedge funds and other institutional investors have recently bought and sold shares of the business. AJOVista LLC acquired a new stake in shares of MacroGenics in the 4th quarter valued at $51,000. China Universal Asset Management Co. Ltd. increased its stake in shares of MacroGenics by 349.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company's stock valued at $69,000 after buying an additional 5,577 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of MacroGenics in the 1st quarter valued at $77,000. SG Americas Securities LLC acquired a new stake in shares of MacroGenics in the 3rd quarter valued at $97,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of MacroGenics in the 3rd quarter valued at $99,000. 96.89% of the stock is owned by institutional investors and hedge funds.

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.