MacroGenics (NASDAQ:MGNX) Upgraded at Evercore ISI

MacroGenics (NASDAQ:MGNX) was upgraded by Evercore ISI to a “strong-buy” rating in a research note issued on Monday, Zacks.com reports.

Several other equities research analysts have also weighed in on MGNX. BTIG Research lowered MacroGenics from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. Barclays lowered their price target on shares of MacroGenics from $14.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, July 29th. Guggenheim downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 31st. B. Riley lowered shares of MacroGenics from a “buy” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $5.00 in a research note on Wednesday, July 31st. Finally, BMO Capital Markets decreased their price objective on MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.11.

MacroGenics Trading Down 1.9 %

Shares of NASDAQ MGNX opened at $3.37 on Monday. The company has a market capitalization of $210.76 million, a price-to-earnings ratio of -8.63 and a beta of 2.09. MacroGenics has a twelve month low of $3.14 and a twelve month high of $21.88. The business has a 50 day simple moving average of $4.00 and a 200-day simple moving average of $8.45.

MacroGenics (NASDAQ:MGNX) last released its earnings results 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). MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. The business had revenue of $10.80 million for the quarter, compared to the consensus estimate of $24.14 million. As a group, equities analysts predict that MacroGenics will post -1.72 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC raised its holdings in shares of MacroGenics by 8.9% during the first quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock worth $225,000 after acquiring an additional 1,246 shares in the last quarter. Diversified Trust Co increased its position in MacroGenics by 16.0% during the first quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock worth $201,000 after acquiring an additional 1,880 shares during the period. EntryPoint Capital LLC acquired a new stake in MacroGenics during the first quarter worth about $40,000. CANADA LIFE ASSURANCE Co acquired a new stake in shares of MacroGenics during the 1st quarter worth approximately $52,000. Finally, Principal Financial Group Inc. increased its holdings in MacroGenics by 1.1% in the 2nd quarter. Principal Financial Group Inc. now owns 348,421 shares of the biopharmaceutical company’s stock valued at $1,481,000 after buying an additional 3,818 shares during the period. 96.89% of the stock is currently owned by institutional investors and hedge funds.

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.