ValuEngine Downgrades MacroGenics (MGNX) to Hold

Share on StockTwits

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.

Recommended Story: How is inflation measured?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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.



Latest News

Research Analysts Issue Forecasts for Nephros, Inc.’s Q2 2019 Earnings
Research Analysts Issue Forecasts for Nephros, Inc.’s Q2 2019 Earnings
Consolidated Edison  Hits New 12-Month High on Analyst Upgrade
Consolidated Edison Hits New 12-Month High on Analyst Upgrade
ValuEngine Downgrades Just Energy Group  to Strong Sell
ValuEngine Downgrades Just Energy Group to Strong Sell
PBF Energy Inc  to Post Q2 2019 Earnings of $0.95 Per Share, Piper Jaffray Companies Forecasts
PBF Energy Inc to Post Q2 2019 Earnings of $0.95 Per Share, Piper Jaffray Companies Forecasts
Head to Head Contrast: Equinix  versus Saul Centers
Head to Head Contrast: Equinix versus Saul Centers
Ituran Location and Control Ltd.   to Release Earnings on Tuesday
Ituran Location and Control Ltd. to Release Earnings on Tuesday


© 2006-2019 Ticker Report