MacroGenics (NASDAQ:MGNX) Downgraded by JMP Securities to “Market Perform”

JMP Securities downgraded shares of MacroGenics (NASDAQ:MGNX) from an outperform rating to a market perform rating in a research report released on Thursday morning, Marketbeat Ratings reports.

A number of other brokerages have also commented on MGNX. Guggenheim lowered MacroGenics from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 31st. BTIG Research lowered shares of MacroGenics from a “buy” rating to a “neutral” rating in a research note on Thursday, August 1st. Citigroup decreased their price target 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. Evercore ISI raised MacroGenics to a “strong-buy” rating in a research report on Monday, September 16th. Finally, BMO Capital Markets decreased their target price on MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, MacroGenics has a consensus rating of “Hold” and a consensus target price of $7.63.

MacroGenics Stock Performance

NASDAQ:MGNX traded down $0.26 during midday trading on Thursday, reaching $4.20. 477,775 shares of the stock traded hands, compared to its average volume of 1,484,010. The stock has a market capitalization of $263.60 million, a P/E ratio of -2.69 and a beta of 2.08. The company has a fifty day moving average of $3.59 and a 200 day moving average of $5.11. MacroGenics has a 12 month low of $2.95 and a 12 month high of $21.88.

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

Institutional Investors Weigh In On MacroGenics

A number of institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its position in MacroGenics by 15.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,060 shares of the biopharmaceutical company’s stock valued at $840,000 after purchasing an additional 7,723 shares during the last quarter. Swiss National Bank bought a new stake in shares of MacroGenics during the first quarter valued at approximately $1,351,000. Susquehanna Fundamental Investments LLC raised its holdings in MacroGenics by 597.4% in the 1st quarter. Susquehanna Fundamental Investments LLC now owns 105,787 shares of the biopharmaceutical company’s stock worth $1,557,000 after acquiring an additional 90,619 shares during the last quarter. ProShare Advisors LLC lifted its position in MacroGenics by 8.9% in the 1st quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock valued at $225,000 after acquiring an additional 1,246 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co purchased a new stake in MacroGenics during the 1st quarter valued at $52,000. 96.89% of the stock is owned by hedge funds and other institutional investors.

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.