MacroGenics, Inc. (MGNX) Cut to Strong Sell at ValuEngine
ValuEngine lowered shares of MacroGenics, Inc. (NASDAQ:MGNX) from a sell rating to a strong sell rating in a research report report published on Thursday morning.
Several other research firms also recently commented on MGNX. Zacks Investment Research upgraded shares of MacroGenics from a sell rating to a hold rating and set a $19.00 price target for the company in a research note on Tuesday, July 18th. BidaskClub downgraded shares of MacroGenics from a hold rating to a sell rating in a research note on Monday, July 31st. Finally, Morgan Stanley dropped their price target on shares of MacroGenics from $24.00 to $22.00 and set an equal weight rating for the company in a research note on Monday, May 8th. Three analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $32.40.
Shares of MacroGenics (MGNX) traded up 2.86% during mid-day trading on Thursday, reaching $17.28. The company’s stock had a trading volume of 404,667 shares. MacroGenics has a one year low of $15.70 and a one year high of $33.30. The stock has a 50 day moving average of $17.76 and a 200-day moving average of $18.87. The stock’s market cap is $635.87 million.
MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.05) by $0.09. The business had revenue of $1.70 million during the quarter, compared to analyst estimates of $15.82 million. MacroGenics had a negative return on equity of 56.81% and a negative net margin of 1,216.51%. The business’s revenue was down 97.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 EPS. On average, equities research analysts expect that MacroGenics will post ($4.08) EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This story was published by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The correct version of this story can be viewed at https://www.dailypolitical.com/2017/08/06/macrogenics-inc-mgnx-cut-to-strong-sell-at-valuengine.html.
In other MacroGenics news, SVP Jon Marc Wigginton sold 5,000 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the transaction, the senior vice president now owns 35,000 shares in the company, valued at $700,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. BB Biotech AG increased its position in MacroGenics by 17.7% in the first quarter. BB Biotech AG now owns 2,260,000 shares of the biopharmaceutical company’s stock valued at $42,036,000 after buying an additional 340,000 shares in the last quarter. OppenheimerFunds Inc. increased its position in MacroGenics by 9.4% in the first quarter. OppenheimerFunds Inc. now owns 3,323,025 shares of the biopharmaceutical company’s stock valued at $61,808,000 after buying an additional 286,018 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new position in MacroGenics during the first quarter valued at about $4,514,000. Marshall Wace North America L.P. bought a new position in MacroGenics during the first quarter valued at about $4,514,000. Finally, Bellevue Group AG increased its position in MacroGenics by 267.0% in the first quarter. Bellevue Group AG now owns 304,597 shares of the biopharmaceutical company’s stock valued at $5,666,000 after buying an additional 221,597 shares in the last quarter. Institutional investors own 82.96% of the company’s stock.
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for MacroGenics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MacroGenics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.