MacroGenics (MGNX) Downgraded by BidaskClub to “Strong Sell”
MacroGenics (NASDAQ:MGNX) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. ValuEngine downgraded shares of MacroGenics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 14th. Raymond James Financial reiterated a “buy” rating on shares of MacroGenics in a research note on Monday, December 11th. Cowen reiterated a “buy” rating on shares of MacroGenics in a research note on Wednesday, October 25th. Finally, Citigroup raised their target price on shares of MacroGenics from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. MacroGenics currently has a consensus rating of “Buy” and a consensus target price of $30.10.
MacroGenics (NASDAQ MGNX) traded down $0.23 during mid-day trading on Thursday, reaching $19.45. The company’s stock had a trading volume of 126,500 shares, compared to its average volume of 147,057. The company has a market cap of $713.62, a PE ratio of -4.33 and a beta of 2.73. MacroGenics has a 52-week low of $14.36 and a 52-week high of $22.31.
MacroGenics (NASDAQ:MGNX) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.09) by ($0.19). The firm had revenue of $1.70 million for the quarter, compared to the consensus estimate of $5.50 million. MacroGenics had a negative return on equity of 69.31% and a negative net margin of 1,526.55%. MacroGenics’s revenue for the quarter was down 48.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.97) EPS. research analysts anticipate that MacroGenics will post -0.7 earnings per share for the current year.
In other MacroGenics news, SVP Jon Marc Wigginton sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the completion of the sale, the senior vice president now directly owns 35,000 shares in the company, valued at $700,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.30% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in MGNX. Russell Investments Group Ltd. bought a new position in MacroGenics in the second quarter valued at approximately $133,000. Legal & General Group Plc increased its stake in MacroGenics by 4.3% in the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock valued at $138,000 after acquiring an additional 328 shares during the last quarter. SG Americas Securities LLC increased its stake in MacroGenics by 92.2% in the second quarter. SG Americas Securities LLC now owns 10,812 shares of the biopharmaceutical company’s stock valued at $189,000 after acquiring an additional 5,187 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in MacroGenics in the second quarter valued at approximately $203,000. Finally, Virtu KCG Holdings LLC bought a new position in MacroGenics in the second quarter valued at approximately $232,000. 85.77% of the stock is currently owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: “MacroGenics (MGNX) Downgraded by BidaskClub to “Strong Sell”” was first posted by Daily Political and is owned by of Daily Political. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.dailypolitical.com/2018/01/11/macrogenics-mgnx-downgraded-by-bidaskclub-to-strong-sell.html.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MacroGenics and related companies with MarketBeat.com's FREE daily email newsletter.