MacroGenics (NASDAQ:MGNX) Stock Rating Upgraded by ValuEngine

MacroGenics (NASDAQ:MGNX) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Tuesday, May 7th, ValuEngine reports.

Other analysts have also issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $39.00 price objective (up from $34.00) on shares of MacroGenics in a research note on Wednesday, February 6th. Nomura upped their price objective on shares of MacroGenics from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 7th. SunTrust Banks increased their price target on shares of MacroGenics to $40.00 and gave the stock a “buy” rating in a research report on Thursday, February 7th. Citigroup raised shares of MacroGenics from a “sell” rating to a “buy” rating and increased their price target for the stock from $10.00 to $39.00 in a research report on Thursday, February 7th. Finally, Cowen reissued a “buy” rating on shares of MacroGenics in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $32.07.

MGNX traded up $0.83 on Tuesday, reaching $18.34. The company had a trading volume of 2,202,294 shares, compared to its average volume of 1,192,439. The firm has a market capitalization of $854.66 million, a PE ratio of -4.38 and a beta of 2.90. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 0.08. MacroGenics has a one year low of $9.87 and a one year high of $32.32.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by ($0.04). MacroGenics had a negative net margin of 256.47% and a negative return on equity of 57.65%. The business had revenue of $9.66 million for the quarter, compared to the consensus estimate of $11.46 million. On average, equities analysts expect that MacroGenics will post -3.7 EPS for the current year.

In related news, SVP Eric Blasius Risser sold 3,000 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $18.38, for a total value of $55,140.00. Following the transaction, the senior vice president now owns 33,806 shares in the company, valued at $621,354.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.88% of the company’s stock.

Several institutional investors have recently made changes to their positions in MGNX. Federated Investors Inc. PA grew its stake in shares of MacroGenics by 206,408.1% in the first quarter. Federated Investors Inc. PA now owns 1,100,688 shares of the biopharmaceutical company’s stock worth $19,790,000 after acquiring an additional 1,100,155 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of MacroGenics by 320.1% in the first quarter. Renaissance Technologies LLC now owns 823,723 shares of the biopharmaceutical company’s stock worth $14,811,000 after acquiring an additional 627,623 shares during the last quarter. Rhenman & Partners Asset Management AB grew its stake in shares of MacroGenics by 78.4% in the first quarter. Rhenman & Partners Asset Management AB now owns 967,186 shares of the biopharmaceutical company’s stock worth $17,390,000 after acquiring an additional 425,000 shares during the last quarter. Bellevue Group AG grew its stake in shares of MacroGenics by 47.3% in the fourth quarter. Bellevue Group AG now owns 1,066,993 shares of the biopharmaceutical company’s stock worth $13,551,000 after acquiring an additional 342,691 shares during the last quarter. Finally, Sofinnova Investments Inc. acquired a new stake in shares of MacroGenics in the fourth quarter worth $4,228,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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