MacroGenics (MGNX) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of MacroGenics (NASDAQ:MGNX) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

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. “

Several other analysts have also weighed in on the company. BidaskClub raised MacroGenics from a strong sell rating to a sell rating in a report on Thursday, January 25th. Cowen reissued a buy rating on shares of MacroGenics in a report on Wednesday, January 24th. SunTrust Banks reissued a buy rating and issued a $31.00 price objective on shares of MacroGenics in a report on Tuesday, January 23rd. BTIG Research reissued a buy rating and issued a $28.00 price objective on shares of MacroGenics in a report on Tuesday, January 23rd. Finally, Raymond James Financial reissued a buy rating on shares of MacroGenics in a report on Monday, December 11th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $30.60.

Shares of MacroGenics (MGNX) opened at $21.79 on Tuesday. The firm has a market capitalization of $802.37, a PE ratio of -4.85 and a beta of 2.79. MacroGenics has a fifty-two week low of $14.36 and a fifty-two week high of $23.90.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.09) by ($0.19). The firm had revenue of $1.70 million during the quarter, compared to the consensus estimate of $5.50 million. MacroGenics had a negative net margin of 1,526.55% and a negative return on equity of 69.31%. The firm’s quarterly revenue was down 48.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.97) earnings per share. sell-side analysts anticipate that MacroGenics will post -0.7 EPS for the current fiscal year.

In other news, SVP Jon Marc Wigginton sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $20.00, for a total transaction of $100,000.00. Following the completion of the transaction, the senior vice president now directly owns 35,000 shares of the company’s stock, valued at $700,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric Blasius Risser sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $22.50, for a total value of $67,500.00. Following the transaction, the senior vice president now directly owns 12,100 shares of the company’s stock, valued at $272,250. The disclosure for this sale can be found here. Insiders have sold 13,000 shares of company stock valued at $267,500 over the last ninety days. Corporate insiders own 8.30% of the company’s stock.

Large investors have recently bought and sold shares of the company. Legal & General Group Plc grew its holdings in shares of MacroGenics by 4.3% during the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock valued at $138,000 after purchasing an additional 328 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in shares of MacroGenics during the second quarter valued at approximately $203,000. Teacher Retirement System of Texas bought a new position in shares of MacroGenics during the fourth quarter valued at approximately $225,000. Virtu KCG Holdings LLC bought a new position in shares of MacroGenics during the second quarter valued at approximately $232,000. Finally, Citigroup Inc. grew its holdings in shares of MacroGenics by 8.4% during the second quarter. Citigroup Inc. now owns 18,975 shares of the biopharmaceutical company’s stock valued at $332,000 after purchasing an additional 1,466 shares during the last quarter. 85.53% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY WARNING: “MacroGenics (MGNX) Lowered to “Sell” at Zacks Investment Research” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The legal version of this article can be read at https://ledgergazette.com/2018/02/07/macrogenics-mgnx-lowered-to-sell-at-zacks-investment-research.html.

MacroGenics Company Profile

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.

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.

Leave a Reply