MacroGenics (NASDAQ:MGNX) Stock Rating Lowered by JMP Securities

MacroGenics (NASDAQ:MGNX) was downgraded by investment analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a report issued on Thursday, FinViz reports.

MGNX has been the topic of a number of other research reports. BMO Capital Markets lowered their target price on MacroGenics from $8.00 to $5.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. B. Riley downgraded MacroGenics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $5.00 in a report on Wednesday, July 31st. HC Wainwright reaffirmed a “neutral” rating and set a $4.00 price objective on shares of MacroGenics in a research report on Wednesday. Evercore ISI raised shares of MacroGenics to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Barclays cut their price target on shares of MacroGenics from $14.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.11.

MacroGenics Price Performance

NASDAQ MGNX opened at $4.19 on Thursday. The firm has a market capitalization of $262.80 million, a price-to-earnings ratio of -1.90 and a beta of 2.08. The company has a 50 day simple moving average of $3.57 and a 200-day simple moving average of $5.12. MacroGenics has a 52-week low of $2.95 and a 52-week high of $21.88.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Tuesday, November 5th. The biopharmaceutical company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.73. MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. The company had revenue of $110.71 million during the quarter, compared to the consensus estimate of $97.04 million. On average, analysts predict that MacroGenics will post -1.72 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC grew its position in shares of MacroGenics by 8.9% in the first quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock valued at $225,000 after purchasing an additional 1,246 shares during the last quarter. EntryPoint Capital LLC bought a new position in MacroGenics in the 1st quarter worth approximately $40,000. CANADA LIFE ASSURANCE Co acquired a new position in shares of MacroGenics during the first quarter worth approximately $52,000. Principal Financial Group Inc. boosted its position in shares of MacroGenics by 1.1% in the second quarter. Principal Financial Group Inc. now owns 348,421 shares of the biopharmaceutical company’s stock valued at $1,481,000 after acquiring an additional 3,818 shares during the period. Finally, Diversified Trust Co grew its stake in shares of MacroGenics by 32.8% in the second quarter. Diversified Trust Co now owns 18,097 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 4,467 shares during the last quarter. Institutional investors own 96.89% of the company’s stock.

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.