MacroGenics (NASDAQ:MGNX) had its price objective lowered by Citigroup from $39.00 to $18.00 in a report issued on Thursday morning, The Fly reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.
Several other equities research analysts have also weighed in on MGNX. Stifel Nicolaus reduced their price objective on MacroGenics from $29.00 to $25.00 and set a buy rating for the company in a research note on Thursday, August 1st. Zacks Investment Research lowered MacroGenics from a buy rating to a hold rating in a research note on Friday, November 1st. BidaskClub lowered MacroGenics from a sell rating to a strong sell rating in a research note on Friday, July 19th. HC Wainwright reduced their price objective on MacroGenics from $39.00 to $18.00 and set a buy rating for the company in a research note on Wednesday, October 23rd. Finally, Leerink Swann reduced their price objective on MacroGenics from $26.00 to $18.00 and set an outperform rating for the company in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $24.44.
Shares of MacroGenics stock traded down $0.17 on Thursday, reaching $8.25. 534,800 shares of the company were exchanged, compared to its average volume of 854,817. The firm has a market cap of $415.59 million, a price-to-earnings ratio of -1.97 and a beta of 2.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.81 and a current ratio of 5.81. The company’s 50-day moving average is $10.86 and its two-hundred day moving average is $14.49. MacroGenics has a 1-year low of $8.24 and a 1-year high of $32.32.
MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.03. The business had revenue of $18.74 million during the quarter, compared to analyst estimates of $23.33 million. MacroGenics had a negative return on equity of 54.52% and a negative net margin of 273.47%. As a group, sell-side analysts forecast that MacroGenics will post -3.78 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MGNX. Marshall Wace LLP purchased a new stake in shares of MacroGenics in the first quarter valued at $80,000. Marshall Wace North America L.P. purchased a new stake in shares of MacroGenics during the first quarter worth $59,000. Aperio Group LLC raised its holdings in shares of MacroGenics by 80.4% during the second quarter. Aperio Group LLC now owns 27,955 shares of the biopharmaceutical company’s stock worth $474,000 after acquiring an additional 12,461 shares in the last quarter. Candriam Luxembourg S.C.A. raised its holdings in shares of MacroGenics by 12.8% during the second quarter. Candriam Luxembourg S.C.A. now owns 750,988 shares of the biopharmaceutical company’s stock worth $12,688,000 after acquiring an additional 85,500 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of MacroGenics by 4.2% during the second quarter. Swiss National Bank now owns 86,200 shares of the biopharmaceutical company’s stock worth $1,463,000 after acquiring an additional 3,500 shares in the last quarter. Institutional investors own 95.81% of the company’s stock.
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: How does a security become overbought?
Receive News & Ratings for MacroGenics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MacroGenics and related companies with MarketBeat.com's FREE daily email newsletter.