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.
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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.
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