MacroGenics (NASDAQ:MGNX) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of MacroGenics (NASDAQ:MGNX) from a sell rating to a buy rating in a research report report published on Sunday.

A number of other equities research analysts have also issued reports on MGNX. Citigroup cut their price target on shares of MacroGenics from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Guggenheim downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 31st. BTIG Research cut MacroGenics from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. JMP Securities lowered MacroGenics from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. Finally, B. Riley downgraded MacroGenics from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $5.00 in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, MacroGenics currently has an average rating of “Hold” and a consensus price target of $7.63.

MacroGenics Trading Down 8.0 %

NASDAQ MGNX opened at $3.77 on Friday. MacroGenics has a 1 year low of $2.95 and a 1 year high of $21.88. The company has a market cap of $236.61 million, a PE ratio of -2.39 and a beta of 2.08. The stock’s 50-day moving average price is $3.65 and its two-hundred day moving average price is $4.73.

Institutional Investors Weigh In On MacroGenics

Large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in MacroGenics by 8,361.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,438,050 shares of the biopharmaceutical company’s stock valued at $35,889,000 after acquiring an additional 2,409,237 shares during the last quarter. Frazier Life Sciences Management L.P. raised its holdings in shares of MacroGenics by 21.8% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,010,727 shares of the biopharmaceutical company’s stock valued at $12,796,000 after purchasing an additional 539,023 shares in the last quarter. Swiss National Bank acquired a new stake in shares of MacroGenics in the 1st quarter valued at $1,351,000. Millennium Management LLC boosted its holdings in MacroGenics by 3,473.7% in the second quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock worth $14,079,000 after purchasing an additional 3,219,977 shares in the last quarter. Finally, Marshall Wace LLP increased its position in MacroGenics by 1,689.3% during the second quarter. Marshall Wace LLP now owns 658,007 shares of the biopharmaceutical company’s stock worth $2,797,000 after buying an additional 621,232 shares during the last quarter. Institutional investors 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.