MacroGenics (MGNX) Downgraded by BidaskClub to “Strong Sell”

BidaskClub lowered shares of MacroGenics (NASDAQ:MGNX) from a sell rating to a strong sell rating in a report released on Thursday.

A number of other brokerages have also weighed in on MGNX. Stifel Nicolaus reiterated a buy rating and issued a $34.00 price objective on shares of MacroGenics in a research report on Tuesday, September 12th. Cowen reiterated a buy rating on shares of MacroGenics in a research report on Wednesday, October 25th. Zacks Investment Research lowered MacroGenics from a hold rating to a sell rating in a research report on Wednesday, October 4th. SunTrust Banks reiterated a buy rating and issued a $26.00 price objective on shares of MacroGenics in a research report on Friday, September 1st. Finally, ValuEngine upgraded MacroGenics from a strong sell rating to a sell rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $30.10.

Shares of MacroGenics (NASDAQ MGNX) traded down $0.20 during midday trading on Thursday, hitting $19.02. The company had a trading volume of 258,500 shares, compared to its average volume of 262,960. MacroGenics has a 52 week low of $14.36 and a 52 week high of $22.31.

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

In other MacroGenics news, SVP Jon Marc Wigginton sold 5,000 shares of MacroGenics stock in a transaction 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 owns 35,000 shares in the company, valued at $700,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors Inc. raised its position in MacroGenics by 5,159.3% during the second quarter. Wasatch Advisors Inc. now owns 1,044,243 shares of the biopharmaceutical company’s stock valued at $18,285,000 after purchasing an additional 1,024,388 shares during the period. FMR LLC grew its stake in shares of MacroGenics by 6.0% during the second quarter. FMR LLC now owns 5,238,917 shares of the biopharmaceutical company’s stock valued at $91,733,000 after buying an additional 295,553 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in shares of MacroGenics by 38.3% during the third quarter. Pinnacle Associates Ltd. now owns 843,175 shares of the biopharmaceutical company’s stock valued at $15,582,000 after buying an additional 233,657 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of MacroGenics by 1,027.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 208,500 shares of the biopharmaceutical company’s stock valued at $3,649,000 after buying an additional 190,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of MacroGenics by 314.8% during the second quarter. Dimensional Fund Advisors LP now owns 180,739 shares of the biopharmaceutical company’s stock valued at $3,165,000 after buying an additional 137,167 shares during the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “MacroGenics (MGNX) Downgraded by BidaskClub to “Strong Sell”” was originally reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://stocknewstimes.com/2017/12/15/macrogenics-mgnx-downgraded-by-bidaskclub-to-strong-sell.html.

About MacroGenics

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.

Latest News

Leave a Reply