MacroGenics (NASDAQ:MGNX) Lifted to “Strong-Buy” at Evercore ISI

Evercore ISI upgraded shares of MacroGenics (NASDAQ:MGNX) to a strong-buy rating in a report issued on Monday morning, Zacks.com reports.

A number of other research analysts have also recently issued reports on the stock. JMP Securities cut their target price on shares of MacroGenics from $16.00 to $8.00 and set a market outperform rating for the company in a research note on Wednesday, July 31st. Guggenheim downgraded MacroGenics from a buy rating to a neutral rating in a research note on Wednesday, July 31st. HC Wainwright restated a neutral rating and set a $4.00 target price on shares of MacroGenics in a research report on Wednesday, August 21st. BMO Capital Markets lowered their price objective on shares of MacroGenics from $8.00 to $5.00 and set a market perform rating for the company in a research report on Wednesday, August 7th. Finally, B. Riley downgraded shares of MacroGenics from a buy rating to a neutral rating and dropped their target price for the stock from $18.00 to $5.00 in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $8.11.

MacroGenics Stock Down 1.9 %

MacroGenics stock opened at $3.30 on Monday. The business has a 50 day moving average price of $3.98 and a two-hundred day moving average price of $8.34. The stock has a market cap of $206.69 million, a price-to-earnings ratio of -8.44 and a beta of 2.09. MacroGenics has a 12 month low of $3.14 and a 12 month high of $21.88.

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

Institutional Investors Weigh In On MacroGenics

Hedge funds and other institutional investors have recently made changes to their positions in the business. EntryPoint Capital LLC acquired a new position in shares of MacroGenics during the 1st quarter worth $40,000. CANADA LIFE ASSURANCE Co acquired a new position in MacroGenics during the first quarter worth $52,000. DRW Securities LLC bought a new position in shares of MacroGenics in the second quarter valued at approximately $56,000. K2 Principal Fund L.P. bought a new position in shares of MacroGenics during the second quarter valued at about $63,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in MacroGenics by 300.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,072 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 12,060 shares during the period. 96.89% of the stock is currently owned by institutional investors and hedge funds.

MacroGenics Company Profile

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.