TD Cowen Upgrades MacroGenics (NASDAQ:MGNX) to Buy

by · The Markets Daily

TD Cowen upgraded shares of MacroGenics (NASDAQ:MGNX – Free Report) from a hold rating to a buy rating in a research note published on Tuesday morning, Marketbeat.com reports.

Several other research firms also recently weighed in on MGNX. HC Wainwright downgraded MacroGenics from a buy rating to a neutral rating and increased their price target for the stock from $12.00 to $14.00 in a research note on Wednesday, February 14th. TheStreet downgraded MacroGenics from a c rating to a d rating in a research note on Thursday, March 7th. BTIG Research increased their price target on MacroGenics from $12.00 to $24.00 and gave the stock a buy rating in a research note on Monday, March 4th. Citigroup upgraded MacroGenics from a neutral rating to a buy rating and increased their price target for the stock from $7.00 to $13.00 in a research note on Wednesday, December 20th. Finally, Barclays increased their price target on MacroGenics from $12.00 to $23.00 and gave the stock an overweight rating in a research note on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, MacroGenics presently has a consensus rating of Moderate Buy and an average target price of $17.00.

Read Our Latest Stock Report on MacroGenics

MacroGenics Trading Down 5.2 %

MGNX stock opened at $17.54 on Tuesday. The stock’s fifty day simple moving average is $17.00 and its two-hundred day simple moving average is $11.21. MacroGenics has a 1-year low of $4.29 and a 1-year high of $21.88. The stock has a market cap of $1.10 billion, a P/E ratio of -109.63 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX – Get Free Report) last posted its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.49). MacroGenics had a negative return on equity of 88.49% and a negative net margin of 15.42%. The business had revenue of $10.72 million during the quarter, compared to analysts’ expectations of $25.70 million. During the same period in the prior year, the firm posted $0.21 EPS. As a group, analysts forecast that MacroGenics will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MacroGenics news, SVP Ezio Bonvini sold 13,316 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $15.00, for a total value of $199,740.00. Following the sale, the senior vice president now owns 74,668 shares of the company’s stock, valued at approximately $1,120,020. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other MacroGenics news, VP Jeffrey Stuart Peters sold 51,395 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $15.55, for a total value of $799,192.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Ezio Bonvini sold 13,316 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $15.00, for a total value of $199,740.00. Following the completion of the sale, the senior vice president now directly owns 74,668 shares in the company, valued at approximately $1,120,020. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,151 shares of company stock valued at $1,436,380. Corporate insiders own 10.00% of the company’s stock.

Institutional Trading of MacroGenics

Institutional investors and hedge funds have recently modified their holdings of the business. Bellevue Group AG raised its holdings in shares of MacroGenics by 1.5% during the 4th quarter. Bellevue Group AG now owns 9,953,313 shares of the biopharmaceutical company’s stock valued at $95,751,000 after buying an additional 150,000 shares in the last quarter. BlackRock Inc. raised its holdings in shares of MacroGenics by 7.0% during the 3rd quarter. BlackRock Inc. now owns 5,722,945 shares of the biopharmaceutical company’s stock valued at $19,801,000 after buying an additional 372,141 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of MacroGenics by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,414,924 shares of the biopharmaceutical company’s stock valued at $20,574,000 after buying an additional 36,396 shares in the last quarter. State Street Corp raised its holdings in shares of MacroGenics by 21.7% during the 1st quarter. State Street Corp now owns 3,544,724 shares of the biopharmaceutical company’s stock valued at $31,229,000 after buying an additional 632,054 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of MacroGenics by 68.0% during the 2nd quarter. Millennium Management LLC now owns 2,609,562 shares of the biopharmaceutical company’s stock valued at $7,698,000 after buying an additional 1,055,927 shares in the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.

MacroGenics Company Profile

(Get Free Report)

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.

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