MacroGenics, Inc. (MGNX) Rating Reiterated by Stifel Nicolaus
MacroGenics, Inc. (NASDAQ:MGNX)‘s stock had its “buy” rating reissued by equities researchers at Stifel Nicolaus in a report issued on Tuesday. They currently have a $34.00 price objective on the biopharmaceutical company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 101.18% from the stock’s previous close.
Several other brokerages have also recently weighed in on MGNX. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $26.00 price target on shares of MacroGenics in a research note on Friday, September 1st. ValuEngine raised MacroGenics from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Wedbush reaffirmed an “outperform” rating and issued a $44.00 price target on shares of MacroGenics in a research note on Monday. Zacks Investment Research raised MacroGenics from a “sell” rating to a “hold” rating and set a $19.00 price target on the stock in a research note on Tuesday, July 18th. Finally, BidaskClub raised MacroGenics from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. 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. MacroGenics currently has an average rating of “Hold” and an average target price of $30.30.
Shares of MacroGenics (NASDAQ:MGNX) opened at 16.91 on Tuesday. The stock’s 50 day moving average is $17.03 and its 200 day moving average is $18.43. The firm’s market cap is $622.25 million. MacroGenics has a 12 month low of $14.36 and a 12 month high of $32.68.
MacroGenics (NASDAQ:MGNX) last posted its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.05) by ($0.09). MacroGenics had a negative net margin of 1,216.51% and a negative return on equity of 56.81%. The business had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $15.82 million. During the same period last year, the firm posted $1.12 earnings per share. MacroGenics’s quarterly revenue was down 97.9% on a year-over-year basis. Equities research analysts expect that MacroGenics will post ($4.42) EPS for the current year.
COPYRIGHT VIOLATION NOTICE: This piece was originally reported by Daily Political and is the property of of Daily Political. If you are reading this piece on another site, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The original version of this piece can be read at https://www.dailypolitical.com/2017/09/14/macrogenics-inc-mgnx-rating-reiterated-by-stifel-nicolaus.html.
Several large investors have recently made changes to their positions in MGNX. Wells Fargo & Company MN lifted its holdings in shares of MacroGenics by 100.8% during the first quarter. Wells Fargo & Company MN now owns 48,200 shares of the biopharmaceutical company’s stock valued at $896,000 after purchasing an additional 24,198 shares in the last quarter. Swiss National Bank lifted its holdings in shares of MacroGenics by 5.5% during the first quarter. Swiss National Bank now owns 46,000 shares of the biopharmaceutical company’s stock valued at $856,000 after purchasing an additional 2,400 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of MacroGenics by 1.0% during the first quarter. Ameriprise Financial Inc. now owns 49,059 shares of the biopharmaceutical company’s stock valued at $912,000 after purchasing an additional 485 shares in the last quarter. Airain ltd bought a new position in shares of MacroGenics during the first quarter valued at $470,000. Finally, Stifel Financial Corp lifted its holdings in shares of MacroGenics by 7.8% during the first quarter. Stifel Financial Corp now owns 20,155 shares of the biopharmaceutical company’s stock valued at $370,000 after purchasing an additional 1,450 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.
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.
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.