ValuEngine Downgrades MacroGenics (MGNX) to Hold

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MacroGenics (NASDAQ:MGNX) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Monday, ValuEngine reports.

Several other brokerages have also recently weighed in on MGNX. Wedbush cut shares of MacroGenics from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 7th. SunTrust Banks increased their price target on shares of MacroGenics to $40.00 and gave the company a “buy” rating in a research note on Thursday, February 7th. Citigroup raised shares of MacroGenics from a “sell” rating to a “buy” rating and increased their price target for the company from $10.00 to $39.00 in a research note on Thursday, February 7th. HC Wainwright reissued a “buy” rating and set a $39.00 price target (up from $34.00) on shares of MacroGenics in a research note on Wednesday, February 6th. Finally, Raymond James raised shares of MacroGenics from an “underperform” rating to a “market perform” rating and set a $26.80 price target on the stock in a research note on Wednesday, February 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $32.07.

MacroGenics stock traded down $1.17 during trading hours on Monday, hitting $16.25. 429,256 shares of the stock were exchanged, compared to its average volume of 1,207,128. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $850.68 million, a price-to-earnings ratio of -3.88 and a beta of 2.90. MacroGenics has a 12 month low of $9.87 and a 12 month high of $32.32.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by ($0.04). The firm had revenue of $9.66 million for the quarter, compared to the consensus estimate of $11.46 million. MacroGenics had a negative return on equity of 57.65% and a negative net margin of 256.47%. As a group, equities research analysts predict that MacroGenics will post -3.76 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in shares of MacroGenics during the fourth quarter valued at approximately $65,000. Pearl River Capital LLC acquired a new position in MacroGenics in the first quarter valued at approximately $74,000. NumerixS Investment Technologies Inc acquired a new position in MacroGenics in the first quarter valued at approximately $74,000. Great West Life Assurance Co. Can lifted its holdings in MacroGenics by 148.6% in the fourth quarter. Great West Life Assurance Co. Can now owns 6,215 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 3,715 shares during the period. Finally, Bank of Montreal Can lifted its holdings in MacroGenics by 804.2% in the first quarter. Bank of Montreal Can now owns 5,000 shares of the biopharmaceutical company’s stock valued at $90,000 after buying an additional 4,447 shares during the period. 76.19% of the stock is currently owned by institutional investors and hedge funds.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.

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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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