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

MacroGenics (NASDAQ:MGNX) was upgraded by investment analysts at Evercore ISI to a “strong-buy” rating in a report released on Monday, Zacks.com reports.

Other analysts have also issued research reports about the company. HC Wainwright reissued a “neutral” rating and set a $4.00 price objective on shares of MacroGenics in a report on Wednesday, August 21st. Citigroup dropped their price objective on shares of MacroGenics from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. JMP Securities decreased their target price on shares of MacroGenics from $16.00 to $8.00 and set a “market outperform” rating on the stock in a research report on Wednesday, July 31st. BMO Capital Markets dropped their price target on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. Finally, Guggenheim downgraded MacroGenics from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have given 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, the company presently has an average rating of “Hold” and a consensus target price of $8.11.

MacroGenics Price Performance

NASDAQ:MGNX opened at $3.37 on Monday. MacroGenics has a one year low of $3.14 and a one year high of $21.88. The company has a fifty day moving average price of $4.00 and a 200 day moving average price of $8.45. The stock has a market cap of $210.76 million, a P/E ratio of -8.63 and a beta of 2.09.

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 company had revenue of $10.80 million during the quarter, compared to the consensus estimate of $24.14 million. As a group, equities research analysts anticipate that MacroGenics will post -1.72 EPS for the current year.

Institutional Trading of MacroGenics

Large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in MacroGenics by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 833,500 shares of the biopharmaceutical company’s stock worth $8,018,000 after buying an additional 8,111 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of MacroGenics by 144.5% during the fourth quarter. BNP Paribas Financial Markets now owns 42,109 shares of the biopharmaceutical company’s stock valued at $405,000 after purchasing an additional 24,883 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of MacroGenics in the fourth quarter valued at approximately $135,000. Dynamic Technology Lab Private Ltd bought a new position in MacroGenics in the 4th quarter worth approximately $182,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in MacroGenics during the 4th quarter worth $895,000. 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.