MacroGenics (NASDAQ:MGNX) Upgraded to Strong-Buy by Evercore ISI

Evercore ISI upgraded shares of MacroGenics (NASDAQ:MGNX) to a strong-buy rating in a research report report published on Monday, Zacks.com reports.

A number of other brokerages also recently commented on MGNX. HC Wainwright reiterated a neutral rating and issued a $4.00 price objective on shares of MacroGenics in a research report on Wednesday, August 21st. BMO Capital Markets lowered their price target on shares of MacroGenics from $8.00 to $5.00 and set a market perform rating on the stock in a report on Wednesday, August 7th. Guggenheim downgraded shares of MacroGenics from a buy rating to a neutral rating in a report on Wednesday, July 31st. StockNews.com cut shares of MacroGenics from a hold rating to a sell rating in a research note on Thursday, August 8th. Finally, Barclays cut their price target on shares of MacroGenics from $14.00 to $9.00 and set an overweight rating for the company in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, MacroGenics has an average rating of Hold and an average price target of $8.11.

MacroGenics Stock Up 2.7 %

Shares of NASDAQ MGNX opened at $3.39 on Monday. MacroGenics has a 12 month low of $3.14 and a 12 month high of $21.88. The company has a market cap of $212.33 million, a P/E ratio of -8.69 and a beta of 2.09. The business’s 50 day moving average is $3.96 and its two-hundred day moving average is $8.30.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.42). The company had revenue of $10.80 million for the quarter, compared to analyst estimates of $24.14 million. MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. Sell-side analysts expect that MacroGenics will post -1.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MacroGenics

Several institutional investors have recently bought and sold shares of the business. Perceptive Advisors LLC bought a new position in shares of MacroGenics in the fourth quarter worth about $5,887,000. Jump Financial LLC acquired a new position in MacroGenics during the 4th quarter worth $135,000. Price T Rowe Associates Inc. MD boosted its position in MacroGenics by 8,361.6% in the 1st 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 buying an additional 2,409,237 shares during the last quarter. BNP Paribas Financial Markets boosted its position in MacroGenics by 144.5% in the 4th quarter. BNP Paribas Financial Markets now owns 42,109 shares of the biopharmaceutical company’s stock valued at $405,000 after buying an additional 24,883 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. increased its stake in shares of MacroGenics by 33.2% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,401,704 shares of the biopharmaceutical company’s stock valued at $23,104,000 after buying an additional 598,500 shares during the period. 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.