MacroGenics (NASDAQ:MGNX) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of MacroGenics (NASDAQ:MGNXGet Rating) from a sell rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.

According to Zacks, “MacroGenics Inc. is a biopharmaceutical company. It is focused on discovering and developing innovative monoclonal antibody-based therapeutics. The Company has a diverse portfolio of product candidates focused in three therapeutic areas: oncology, autoimmune disorders and infectious diseases. MacroGenics Inc. is headquartered in Rockville, Maryland. “

Several other research firms have also issued reports on MGNX. BMO Capital Markets assumed coverage on shares of MacroGenics in a research report on Friday, February 11th. They issued an outperform rating and a $31.00 price target on the stock. Sumitomo Mitsui Financial Group started coverage on MacroGenics in a research report on Friday, February 4th. They set an outperform rating and a $40.00 target price on the stock. Barclays reduced their target price on MacroGenics from $35.00 to $18.00 in a report on Friday, February 25th. SVB Leerink dropped their price target on MacroGenics from $40.00 to $23.00 and set an outperform rating on the stock in a research note on Friday, February 25th. Finally, StockNews.com began coverage on shares of MacroGenics in a research note on Thursday, March 31st. They set a sell rating for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Buy and a consensus price target of $29.30.

MGNX opened at $4.16 on Tuesday. The company has a market capitalization of $255.15 million, a PE ratio of -1.17 and a beta of 2.13. The stock’s fifty day moving average is $7.95 and its 200-day moving average is $12.70. MacroGenics has a one year low of $3.96 and a one year high of $32.81.

MacroGenics (NASDAQ:MGNXGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.28). MacroGenics had a negative net margin of 303.19% and a negative return on equity of 84.52%. During the same quarter last year, the company earned ($0.90) earnings per share. Research analysts expect that MacroGenics will post -3.15 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Fox Run Management L.L.C. acquired a new stake in shares of MacroGenics during the fourth quarter worth approximately $189,000. HighVista Strategies LLC grew its holdings in shares of MacroGenics by 115.2% during the 3rd quarter. HighVista Strategies LLC now owns 54,012 shares of the biopharmaceutical company’s stock valued at $1,131,000 after acquiring an additional 28,908 shares in the last quarter. Strs Ohio increased its stake in shares of MacroGenics by 127.8% in the fourth quarter. Strs Ohio now owns 36,000 shares of the biopharmaceutical company’s stock worth $577,000 after acquiring an additional 20,200 shares during the last quarter. Swiss National Bank raised its holdings in shares of MacroGenics by 7.0% during the third quarter. Swiss National Bank now owns 106,100 shares of the biopharmaceutical company’s stock worth $2,222,000 after acquiring an additional 6,900 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in MacroGenics by 269.6% during the third quarter. Cubist Systematic Strategies LLC now owns 48,080 shares of the biopharmaceutical company’s stock valued at $1,007,000 after purchasing an additional 35,073 shares during the last quarter.

About MacroGenics (Get Rating)

MacroGenics, Inc, a biopharmaceutical company, develops 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.

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