MacroGenics (NASDAQ:MGNX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MacroGenics (NASDAQ:MGNX) from a sell rating to a hold rating in a research report sent to investors on Saturday.

MGNX has been the topic 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 on the stock in a research report on Tuesday, March 25th. Barclays reissued an “overweight” rating and set a $3.00 price target (down previously from $8.00) on shares of MacroGenics in a research report on Wednesday, May 14th. B. Riley reduced their price target on shares of MacroGenics from $5.00 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 20th. Finally, Stifel Nicolaus reduced their price target on shares of MacroGenics from $6.00 to $5.00 and set a “hold” rating on the stock in a research report on Wednesday, May 14th. Eight 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 company’s stock. According to data from MarketBeat, MacroGenics currently has a consensus rating of “Hold” and an average price target of $5.71.

MacroGenics Price Performance

NASDAQ MGNX opened at $1.64 on Friday. The firm’s 50-day moving average is $1.46 and its two-hundred day moving average is $2.34. MacroGenics has a 12 month low of $0.99 and a 12 month high of $5.77. The stock has a market capitalization of $103.47 million, a P/E ratio of -1.04 and a beta of 1.65.

MacroGenics (NASDAQ:MGNX) last posted 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 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 analyst estimates of $9.59 million. As a group, analysts anticipate that MacroGenics will post -1.06 EPS for the current year.

Institutional Trading of MacroGenics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGNX. State of Wyoming acquired a new stake in MacroGenics during the first quarter worth approximately $28,000. Lazard Asset Management LLC acquired a new stake in MacroGenics during the fourth quarter worth approximately $32,000. American Century Companies Inc. acquired a new stake in MacroGenics during the fourth quarter worth approximately $38,000. Jump Financial LLC acquired a new stake in MacroGenics during the fourth quarter worth approximately $44,000. Finally, Deutsche Bank AG raised its holdings in MacroGenics by 3,803.2% during the first quarter. Deutsche Bank AG now owns 51,093 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 49,784 shares in the last quarter. 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.