MacroGenics (NASDAQ:MGNX) Stock Rating Lowered by Zacks Investment Research

Share on StockTwits

MacroGenics (NASDAQ:MGNX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “MacroGenics Inc. is a biopharmaceutical company. It is focused on discovering and developing innovative monoclonal antibody-based therapeutics. The Company has a diverse portfolio of product candidates focused in three therapeutic areas: oncology, autoimmune disorders and infectious diseases. MacroGenics Inc. is headquartered in Rockville, Maryland. “

MGNX has been the topic of a number of other research reports. Nomura reissued a “buy” rating and issued a $50.00 price target on shares of MacroGenics in a research note on Thursday, December 12th. Cantor Fitzgerald began coverage on MacroGenics in a research note on Wednesday, December 18th. They issued an “overweight” rating and a $17.00 price target on the stock. Citigroup cut their price target on MacroGenics from $39.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of MacroGenics in a research note on Friday, December 20th. Finally, Morgan Stanley downgraded MacroGenics from an “equal” rating to an “equal weight” rating and cut their price target for the company from $17.00 to $6.00 in a research note on Thursday, November 21st. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. MacroGenics has an average rating of “Buy” and an average price target of $22.98.

Shares of MGNX opened at $11.74 on Thursday. The firm has a market capitalization of $592.88 million, a price-to-earnings ratio of -3.25 and a beta of 2.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.79 and a current ratio of 4.79. The business’s fifty day moving average price is $10.76 and its two-hundred day moving average price is $11.97. MacroGenics has a 52 week low of $7.43 and a 52 week high of $32.32.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.91) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.94) by $0.03. The firm had revenue of $18.74 million for the quarter, compared to analyst estimates of $23.33 million. MacroGenics had a negative return on equity of 59.67% and a negative net margin of 303.08%. As a group, research analysts forecast that MacroGenics will post -3.4 EPS for the current year.

Several hedge funds have recently bought and sold shares of MGNX. Marshall Wace North America L.P. acquired a new stake in MacroGenics during the 1st quarter worth $59,000. Marshall Wace LLP acquired a new stake in MacroGenics during the 1st quarter worth $80,000. Tower Research Capital LLC TRC acquired a new stake in MacroGenics during the 3rd quarter worth $94,000. Alpine Global Management LLC acquired a new stake in MacroGenics during the 4th quarter worth $135,000. Finally, Metropolitan Life Insurance Co NY raised its stake in MacroGenics by 23.4% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 16,259 shares of the biopharmaceutical company’s stock worth $207,000 after buying an additional 3,081 shares during the period. 94.92% of the stock is currently owned by institutional investors.

About MacroGenics

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.

See Also: What is the Nikkei 225 index?    

Get a free copy of the Zacks research report on MacroGenics (MGNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

HBT Financial  Given Average Rating of “Buy” by Analysts
HBT Financial Given Average Rating of “Buy” by Analysts
Drexel Morgan & Co. Has $1.63 Million Stock Holdings in Caterpillar Inc.
Drexel Morgan & Co. Has $1.63 Million Stock Holdings in Caterpillar Inc.
Medtronic PLC  Shares Sold by Drexel Morgan & Co.
Medtronic PLC Shares Sold by Drexel Morgan & Co.
Drexel Morgan & Co. Reduces Stock Holdings in Walt Disney Co
Drexel Morgan & Co. Reduces Stock Holdings in Walt Disney Co
Drexel Morgan & Co. Reduces Holdings in Deere & Company
Drexel Morgan & Co. Reduces Holdings in Deere & Company
Analysts Anticipate China Yuchai International Limited  to Post $0.32 Earnings Per Share
Analysts Anticipate China Yuchai International Limited to Post $0.32 Earnings Per Share


© 2006-2020 Ticker Report