MacroGenics, Inc. (MGNX) Earns Outperform Rating from Wedbush
Wedbush reaffirmed their outperform rating on shares of MacroGenics, Inc. (NASDAQ:MGNX) in a research note published on Monday morning. The firm currently has a $44.00 price objective on the biopharmaceutical company’s stock.
Other research analysts have also issued reports about the stock. Cowen and Company reaffirmed a buy rating on shares of MacroGenics in a research note on Friday, August 4th. SunTrust Banks, Inc. reaffirmed a buy rating and set a $26.00 price objective on shares of MacroGenics in a research note on Friday, September 1st. Morgan Stanley dropped their price objective on shares of MacroGenics from $22.00 to $21.00 and set an equal weight rating for the company in a research note on Monday, August 7th. Zacks Investment Research lowered shares of MacroGenics from a buy rating to a hold rating in a research note on Thursday, August 3rd. Finally, ValuEngine raised shares of MacroGenics from a strong sell rating to a sell rating in a research note on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $30.30.
MacroGenics (NASDAQ MGNX) opened at 16.91 on Monday. The firm has a 50-day moving average of $17.03 and a 200 day moving average of $18.43. MacroGenics has a one year low of $14.36 and a one year high of $32.68. The company’s market capitalization is $622.25 million.
MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.09). The firm had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $15.82 million. MacroGenics had a negative return on equity of 56.81% and a negative net margin of 1,216.51%. The firm’s quarterly revenue was down 97.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.12 earnings per share. Equities research analysts predict that MacroGenics will post ($4.42) earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently modified their holdings of MGNX. Wasatch Advisors Inc. boosted its stake in shares of MacroGenics by 5,159.3% during the second quarter. Wasatch Advisors Inc. now owns 1,044,243 shares of the biopharmaceutical company’s stock valued at $18,285,000 after purchasing an additional 1,024,388 shares during the period. BB Biotech AG raised its holdings in shares of 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 acquiring an additional 340,000 shares in the last quarter. FMR LLC raised its holdings in shares of MacroGenics by 6.0% in the second quarter. FMR LLC now owns 5,238,917 shares of the biopharmaceutical company’s stock valued at $91,733,000 after acquiring an additional 295,553 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in MacroGenics by 9.4% in the first quarter. OppenheimerFunds Inc. now owns 3,323,025 shares of the biopharmaceutical company’s stock worth $61,808,000 after purchasing an additional 286,018 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new position in MacroGenics in the first quarter worth about $4,514,000. 84.47% of the stock is owned by hedge funds and other institutional investors.
MacroGenics Company Profile
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.
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