MacroGenics (NASDAQ:MGNX) Rating Lowered to Strong Sell at BidaskClub

BidaskClub downgraded shares of MacroGenics (NASDAQ:MGNX) from a sell rating to a strong sell rating in a report issued on Friday, BidAskClub reports.

Several other equities research analysts have also recently weighed in on MGNX. Wedbush began coverage on Millendo Therapeutics in a report on Thursday. They issued an outperform rating and a $24.00 target price for the company. HC Wainwright reissued a neutral rating on shares of Syros Pharmaceuticals in a report on Thursday, May 2nd. Stifel Nicolaus cut their price objective on MacroGenics from $36.00 to $29.00 and set a buy rating on the stock in a report on Wednesday, June 5th. Cowen set a $27.00 price objective on Puma Biotechnology and gave the company a hold rating in a report on Wednesday, June 5th. Finally, Guggenheim lowered Anadarko Petroleum from a buy rating to a hold rating and set a $69.00 price objective on the stock. in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $31.62.

NASDAQ:MGNX opened at $14.69 on Friday. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 0.08. MacroGenics has a 1 year low of $9.87 and a 1 year high of $32.32. The business has a 50 day moving average price of $16.13. The company has a market cap of $716.96 million, a P/E ratio of -3.51 and a beta of 2.38.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by ($0.04). The company had revenue of $9.66 million for the quarter, compared to the consensus estimate of $11.46 million. MacroGenics had a negative net margin of 256.47% and a negative return on equity of 57.65%. On average, equities research analysts expect that MacroGenics will post -3.71 EPS for the current fiscal year.

In related news, SVP Eric Blasius Risser sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $18.54, for a total value of $74,160.00. Following the sale, the senior vice president now owns 33,806 shares in the company, valued at approximately $626,763.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 7.88% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. OppenheimerFunds Inc. boosted its holdings in MacroGenics by 0.4% during the first quarter. OppenheimerFunds Inc. now owns 4,463,410 shares of the biopharmaceutical company’s stock worth $80,252,000 after purchasing an additional 16,569 shares during the last quarter. BlackRock Inc. increased its holdings in MacroGenics by 5.5% in the 4th quarter. BlackRock Inc. now owns 3,401,391 shares of the biopharmaceutical company’s stock valued at $43,198,000 after buying an additional 176,135 shares during the period. Wasatch Advisors Inc. grew its holdings in shares of MacroGenics by 23.6% during the 1st quarter. Wasatch Advisors Inc. now owns 1,291,513 shares of the biopharmaceutical company’s stock valued at $23,221,000 after purchasing an additional 246,536 shares during the last quarter. Federated Investors Inc. PA grew its holdings in shares of MacroGenics by 206,408.1% during the 1st quarter. Federated Investors Inc. PA now owns 1,100,688 shares of the biopharmaceutical company’s stock valued at $19,790,000 after purchasing an additional 1,100,155 shares during the last quarter. Finally, Rhenman & Partners Asset Management AB boosted its position in MacroGenics by 78.4% during the 1st quarter. Rhenman & Partners Asset Management AB now owns 967,186 shares of the biopharmaceutical company’s stock worth $17,390,000 after buying an additional 425,000 shares during the period. 90.49% of the stock is currently owned by institutional investors.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.

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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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