MacroGenics (NASDAQ:MGNX) Earns Neutral Rating from HC Wainwright

HC Wainwright reiterated their neutral rating on shares of MacroGenics (NASDAQ:MGNX) in a research report released on Wednesday morning, Benzinga reports. They currently have a $4.00 price target on the biopharmaceutical company’s stock.

Several other research firms have also issued reports on MGNX. Citigroup dropped their price objective on shares of MacroGenics from $16.00 to $14.00 and set a buy rating for the company in a research report on Thursday, August 15th. StockNews.com downgraded MacroGenics from a hold rating to a sell rating in a research report on Thursday, August 8th. Evercore ISI upgraded MacroGenics to a strong-buy rating in a report on Monday, September 16th. JMP Securities dropped their price objective on shares of MacroGenics from $16.00 to $8.00 and set a market outperform rating on the stock in a research note on Wednesday, July 31st. Finally, B. Riley downgraded shares of MacroGenics from a buy rating to a neutral rating and decreased their target price for the company from $18.00 to $5.00 in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $8.11.

MacroGenics Trading Down 3.2 %

Shares of MGNX opened at $3.28 on Wednesday. The stock’s fifty day simple moving average is $3.91 and its 200 day simple moving average is $8.06. MacroGenics has a twelve month low of $3.14 and a twelve month high of $21.88. The firm has a market capitalization of $205.44 million, a P/E ratio of -8.41 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.42). The firm had revenue of $10.80 million during the quarter, compared to analyst estimates of $24.14 million. MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. Sell-side analysts predict that MacroGenics will post -1.72 earnings per share for the current year.

Institutional Investors Weigh In On MacroGenics

Institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC acquired a new stake in shares of MacroGenics during the 1st quarter valued at approximately $40,000. CANADA LIFE ASSURANCE Co bought a new position in shares of MacroGenics in the 1st quarter worth about $52,000. Sound Income Strategies LLC acquired a new position in shares of MacroGenics in the 1st quarter valued at about $77,000. China Universal Asset Management Co. Ltd. grew its position in shares of MacroGenics by 66.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,935 shares of the biopharmaceutical company’s stock valued at $176,000 after buying an additional 4,761 shares during the last quarter. Finally, DRW Securities LLC bought a new stake in shares of MacroGenics during the 2nd quarter valued at about $56,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.