Macrogenics (NASDAQ:MGNX) Stock, Quote.Headers.trade-ideas

Macrogenics

Macrogenics Inc is a biotechnology company focused on discovering and developing antibody-based therapeutics for the treatment of cancer. Its product includes MARGENZA, which is for the treatment of adult patients with metastatic HER2-positive breast cancer. It's a pipeline of product candidates designed to target either various tumor-associated antigens or immune checkpoint molecules. Its pipeline MGC018 (B7-H3), Lorigerlimab (PD-1 × CTLA-4), Tebotelimab (PD-1 × LAG-3), MGD024 (CD123 × CD3), IMGC936 (ADAM9), Enoblituzumab (anti-B7-H3), Retifanlimab (PD-1), and MGD014 (HIV × CD3).

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MacroGenics will discontinue vobra duo for remaining mCRPC participants after five deaths. New data to be presented at ESMO 2024 conference.

After Reporting Five Patient Deaths, Data Committee Recommends MacroGenics Halt Prostate Cancer Trial

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Macrogenics Inc

9 analysts have shared their evaluations of Macrogenics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $6.78, a high estimate of $14.00, and a low estimate of $4.00. A 34.37% drop is evident in the current average compared to the previous average price target of $10.33. 
<img src="https://www.benzinga.com/files/images/story/2024/1726668050_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Macrogenics. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Robert Burns</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$4.00</td>
<td>$4.00</td>
</tr>
<tr>
<td>Robert Burns</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$4.00</td>
<td>$4.00</td>
</tr>
<tr>
<td>Yigal Nochomovitz</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$14.00</td>
<td>$16.00</td>
</tr>
<tr>
<td>Etzer Darout</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$5.00</td>
<td>$8.00</td>
</tr>
<tr>
<td>Robert Burns</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$4.00</td>
<td>$4.00</td>
</tr>
<tr>
<td>Silvan Tuerkcan</td>
<td>JMP Securities</td>
<td>Lowers</td>
<td>Market Outperform</td>
<td>$8.00</td>
<td>$16.00</td>
</tr>
<tr>
<td>Peter Lawson</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$8.00</td>
<td>$9.00</td>
</tr>
<tr>
<td>Mayank Mamtani</td>
<td>B. Riley Securities</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$5.00</td>
<td>$18.00</td>
</tr>
<tr>
<td>Peter Lawson</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$9.00</td>
<td>$14.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Macrogenics. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Macrogenics compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Macrogenics's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Macrogenics's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/MGNX/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Macrogenics analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>About Macrogenics</h2>
Macrogenics Inc is a biotechnology company focused on discovering and developing antibody-based therapeutics for the treatment of cancer. Its product includes MARGENZA, which is for the treatment of adult patients with metastatic HER2-positive breast cancer. It's a pipeline of product candidates designed to target either various tumor-associated antigens or immune checkpoint molecules. Its pipeline MGC018 (B7-H3), Lorigerlimab (PD-1 × CTLA-4), Tebotelimab (PD-1 × LAG-3), MGD024 (CD123 × CD3), IMGC936 (ADAM9), Enoblituzumab (anti-B7-H3), Retifanlimab (PD-1), and MGD014 (HIV × CD3).
<h3>Unraveling the Financial Story of Macrogenics</h3>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Decline in Revenue: Over the 3 months period, Macrogenics faced challenges, resulting in a decline of approximately -17.81% in revenue growth as of 30 June, 2024. This signifies a reduction in the company's top-line earnings. When compared to others in the Health Care sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Macrogenics's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive -515.55% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Macrogenics's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -67.89%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Macrogenics's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -24.77%, the company may face hurdles in achieving optimal financial performance.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 0.59, caution is advised due to increased financial risk.
<h2>How Are Analyst Ratings Determined?</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Macrogenics Stock: A Deep Dive Into Analyst Perspectives (9 Ratings)

HC Wainwright &amp; Co. analyst Robert Burns reiterates Macrogenics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) with a Neutral and maintains $4 price target.

Reiteration

HC Wainwright & Co. Reiterates Neutral on Macrogenics, Maintains $4 Price Target

<ul>
<li>Encouraging antitumor activity demonstrated with vobra duo as measured by 6-month landmark rPFS rate and ORR</li>
<li>Patients remained on vobra duo through a median of 6 doses (ranging up to 12), representing an extension of treatment duration as compared to Phase 1 mCRPC dose expansion cohort</li>
<li>Company expects to have mature median rPFS no later than early 2025</li>
<li>MacroGenics to host an investor call to review key data presented at ESMO and provide a general corporate update on Monday, September 16, 2024, at 8:00 a.m. ET</li>
</ul>

Reported Sunday, MacroGenics Presents Efficacy And Safety Data For Vobra Duo In Phase 2 TAMARACK Study At ESMO 2024

WIIM

MacroGenics shares are trading higher after the company announced it is set to present Phase 2 results from its TAMARACK trial on innovative cancer treatment at ESMO 2024.

MacroGenics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>), a biopharmaceutical company focused on discovering, developing, manufacturing and commercializing innovative antibody-based therapeutics for the treatment of cancer, today announced a poster presentation relating to Phase 2 data of vobramitamab duocarmazine in metastatic castration-resistant prostate cancer (mCRPC) at the European Society for Medical Oncology (ESMO) Congress, taking place in Barcelona, Spain from September 13-17, 2024.
&nbsp;

Reported Sunday, MacroGenics To Present Phase 2 Results From TAMARACK Trial On Innovative Cancer Treatment At ESMO 2024

Across the recent three months, 8 analysts have shared their insights on Macrogenics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>), expressing a variety of opinions spanning from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $7.75, a high estimate of $14.00, and a low estimate of $4.00. A 43.1% drop is evident in the current average compared to the previous average price target of $13.62. 
<img src="https://www.benzinga.com/files/images/story/2024/1723734065_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
The perception of Macrogenics by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Yigal Nochomovitz</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$14.00</td>
<td>$16.00</td>
</tr>
<tr>
<td>Etzer Darout</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$5.00</td>
<td>$8.00</td>
</tr>
<tr>
<td>Robert Burns</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$4.00</td>
<td>$4.00</td>
</tr>
<tr>
<td>Silvan Tuerkcan</td>
<td>JMP Securities</td>
<td>Lowers</td>
<td>Market Outperform</td>
<td>$8.00</td>
<td>$16.00</td>
</tr>
<tr>
<td>Peter Lawson</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$8.00</td>
<td>$9.00</td>
</tr>
<tr>
<td>Mayank Mamtani</td>
<td>B. Riley Securities</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$5.00</td>
<td>$18.00</td>
</tr>
<tr>
<td>Peter Lawson</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$9.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Kaveri Pohlman</td>
<td>BTIG</td>
<td>Lowers</td>
<td>Buy</td>
<td>$9.00</td>
<td>$24.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Macrogenics. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Macrogenics compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Macrogenics's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of Macrogenics's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/MGNX/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Macrogenics analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>About Macrogenics</h2>
Macrogenics Inc is a biotechnology company focused on discovering and developing antibody-based therapeutics for the treatment of cancer. Its product includes MARGENZA, which is for the treatment of adult patients with metastatic HER2-positive breast cancer. It's a pipeline of product candidates designed to target either various tumor-associated antigens or immune checkpoint molecules. Its pipeline MGC018 (B7-H3), Lorigerlimab (PD-1 × CTLA-4), Tebotelimab (PD-1 × LAG-3), MGD024 (CD123 × CD3), IMGC936 (ADAM9), Enoblituzumab (anti-B7-H3), Retifanlimab (PD-1), and MGD014 (HIV × CD3).
<h3>Breaking Down Macrogenics's Financial Performance</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Negative Revenue Trend: Examining Macrogenics's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -17.81% in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Health Care sector.
Net Margin: Macrogenics's net margin excels beyond industry benchmarks, reaching -515.55%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Macrogenics's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -67.89%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Macrogenics's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -24.77%, the company may face hurdles in achieving optimal financial performance.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 0.59, caution is advised due to increased financial risk.
<h2>How Are Analyst Ratings Determined?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Evaluating Macrogenics: Insights From 8 Financial Analysts

Citigroup analyst Yigal Nochomovitz maintains Macrogenics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) with a Buy and lowers the price target from $16 to $14.

Citigroup Maintains Buy on Macrogenics, Lowers Price Target to $14

BMO Capital analyst Etzer Darout maintains Macrogenics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) with a Market Perform and lowers the price target from $8 to $5.

BMO Capital Maintains Market Perform on Macrogenics, Lowers Price Target to $5

Macrogenics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) reported quarterly losses of $(0.89) per share which missed the analyst consensus estimate of $(0.59) by 50.85 percent. This is a 196.74 percent decrease over earnings of $0.92 per share from the same period last year. The company reported quarterly sales of $10.80 million which missed the analyst consensus estimate of $21.24 million by 49.16 percent. This is a 17.81 percent decrease over sales of $13.14 million the same period last year.

Earnings

Earnings Misses

Macrogenics Q2 EPS $(0.89) Misses $(0.59) Estimate, Sales $10.80M Miss $21.24M Estimate

BTIG analyst Kaveri Pohlman downgrades Macrogenics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) from Buy to Neutral.

BTIG Downgrades Macrogenics to Neutral

JMP Securities analyst Silvan Tuerkcan maintains Macrogenics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) with a Market Outperform and lowers the price target from $16 to $8.

JMP Securities Maintains Market Outperform on Macrogenics, Lowers Price Target to $8

MacroGenics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) announced on Tuesday that it reviewed data accumulated from the TAMARACK Phase 2 study of vobramitamab duocarmazine (vobra duo).
In May, when the company released interim data from the trial, MacroGenics reported five deaths <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38768977/macrogenics-gets-downgraded-following-disappointing-prostate-cancer-trial-results-w" rel="noreferrer noopener">(fatal outcome) during the trial</a>.
After reviewing, MacroGenics agreed with the study&#8217;s Independent Data Monitoring Committee&#8217;s recommendation to discontinue the treatment for the remaining metastatic castration-resistant prostate cancer (mCRPC) study participants who could have received additional doses.
Most of these remaining study participants had already received 8-12 cycles of vobra duo. Participants continue to be monitored for adverse events, disease progression and survival.
&#8220;We decided to discontinue additional dosing for the remaining TAMARACK participants who had not yet completed treatment. We expect to have the data necessary to determine next steps for the vobra duo program later this year and will provide further updates on an investor call following our ESMO presentation,&#8221; said Dr. Scott Koenig, president and CEO of MacroGenics.
The company expects to have the mature efficacy findings, including median rPFS, later in the second half of 2024 and plans to present the data at a subsequent medical conference.
The company also announced a poster (display) presentation of clinical data from the TAMARACK Phase 2 study of vobra duo at the upcoming European Society for Medical <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38098131/macrogenics-analyst-impressed-by-improved-safety-profile-from-prostate-cancer-candi" rel="noreferrer noopener">Oncology (ESMO) Congress 2024</a>.
The abstract was based on an April 12 data cutoff, and the poster will report additional data from a July 9 data cutoff, including safety, efficacy, and landmark 6-month radiographic <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/g40050124/macrogenics-provides-vobramitamab-duocarmazine-update" rel="noreferrer noopener">progression-free survival (rPFS) data</a>.
MacroGenics completed enrollment in the TAMARACK study in the fourth quarter of 2023 and plans to present the study&#8217;s landmark primary endpoint, the 6-month rPFS rate, which represents the proportion of study participants who remain alive and progression-free at six months.
Concurrently, MacroGenics achieved $100 million in milestones from Incyte Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INCY#NASDAQ">INCY</a>) related to the development progress of Zynyz (retifanlimabz), following an agreement on July 24. Zynyz is indicated in the U.S. for metastatic or recurrent <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/g40049720/macrogenics-announces-achievement-of-100-million-in-milestones-related-to-retifanlimab-collaborati" rel="noreferrer noopener">locally advanced Merkel cell carcinoma</a>.
Analyst Reactions:
<ul>
<li>B. Riley Securities downgraded Macrogenics from Buy to Neutral and lowered the price target from $18 to $5.</li>
<li>Guggenheim downgraded Macrogenics from Buy to Neutral.</li>
<li>Barclays maintained Macrogenics with an Overweight and lowered the price target from $9 to $8.</li>
</ul>
MGNX Price Action: MacroGenics stock is down 28.59% at $3.75 at last check Wednesday.
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Photo: Shutterstock

Barclays analyst Peter Lawson maintains Macrogenics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) with a Overweight and lowers the price target from $9 to $8.

Barclays Maintains Overweight on Macrogenics, Lowers Price Target to $8

MHUA: 121% &#x7C; <a href="https://www.benzinga.com//node/40065145">Meihua International Announced That Its NT-2000 Surgical Path Analysis System Successfully Supported The World's Second 5G Remote Robot-assisted Lobectomy</a>
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MGNX: -28% &#x7C; <a href="https://www.benzinga.com//node/40065092">MacroGenics shares are trading lower. The company announced a presentation of clinical data from the TAMARACK Phase 2 study of vobramitamab duocarmazine at the upcoming European Society for Medical Oncology Congress 2024. Multiple analysts on Wednesday downgraded the stock.</a>
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VST: 17% &#x7C; <a href="https://www.benzinga.com//node/40062844">Vistra shares are trading higher after the company announced that the Nuclear Regulatory Commission has approved its request to extend the operation of Comanche Peak Nuclear Power Plant through 2053.</a>

MHUA

Market-Moving News for July 31st

U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 1.5% on Wednesday.
Shares of Pinterest, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NASDAQ">PINS</a>) fell sharply in pre-market trading  after the company issued third-quarter revenue <a href="https://www.benzinga.com/news/earnings/24/07/40051745/pinterest-q2-earnings-revenue-eps-beat-but-weak-guidance-weighs-on-shares">guidance below estimates</a>.
Pinterest reported second-quarter revenue of $854 million, beating the consensus estimate of $847.81 million, according to Benzinga Pro. The idea discovery platform company reported adjusted earnings of 29 cents per share, beating analyst estimates of 28 cents per share, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Pinterest expects third-quarter revenue to be in the range of $885 million to $900 million versus estimates of $907.7 million.
Pinterest shares dipped 10.5% to $33.43 in the pre-market trading session.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>MacroGenics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) shares fell 24% to $3.99 in pre-market trading. The company announced a presentation of clinical data from the TAMARACK Phase 2 study of vobramitamab duocarmazine at the upcoming European Society for Medical Oncology Congress 2024.</li>
<li>Penumbra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEN#NYSE">PEN</a>) shares declined 20.3% to $137.93 in pre-market trading after the company reported second-quarter financial results and cut its FY24 revenue guidance below estimates.</li>
<li>Groupon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRPN#NASDAQ">GRPN</a>) shares tumbled 18.6% to $12.75 in pre-market trading following a second-quarter EPS miss.</li>
<li>Definitive Healthcare Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DH#NASDAQ">DH</a>) shares dipped 17.6% to $4.71 in pre-market trading. Needham analyst Ryan MacDonald reiterated Definitive Healthcare with a Hold.</li>
<li>O-I Glass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) declined 15.5% to $9.80 in pre-market trading after the company lowered its FY24 guidance.</li>
<li>Lemonade, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMND#NYSE">LMND</a>) shares fell 14.6% to $19.33 in pre-market trading following quarterly results.</li>
<li>Cantaloupe, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTLP#NASDAQ">CTLP</a>) fell 10.5% to $7.01 in pre-market trading.</li>
<li>Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) fell 9.3% to $367.00 in pre-market trading following second-quarter results.</li>
<li>Axos Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AX#NYSE">AX</a>) declined 9% to $70.60 in pre-market trading following weak quarterly sales.             </li>
<li>SiteOne Landscape Supply, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SITE#NYSE">SITE</a>) dipped 8.2% to $131.77 in pre-market trading following second-quarter results.</li>
<li>Archrock, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AROC#NYSE">AROC</a>) dipped 7% to $20.00 in pre-market trading following weak quarterly results.</li>
<li>Waters Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAT#NYSE">WAT</a>) fell 6.9% to $305.00 in pre-market trading as the company lowered its FY24 outlook.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/40059087/nasdaq-tumbles-amid-decline-in-tech-stocks-greed-index-moves-to-fear-zone">Nasdaq Tumbles As Microsoft, Nvidia And Other Tech Stocks Decline: Greed Index Moves To &#8216;Fear&#8217; Zone</a></li>
</ul>

Pinterest Issues Weak Revenue Forecast, Joins Groupon, O-I Glass And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

MacroGenics shares are trading lower. The company announced a presentation of clinical data from the TAMARACK Phase 2 study of vobramitamab duocarmazine at the upcoming European Society for Medical Oncology Congress 2024. Multiple analysts on Wednesday downgraded the stock.

Guggenheim analyst Kelsey Goodwin downgrades Macrogenics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) from Buy to Neutral.

Guggenheim Downgrades Macrogenics to Neutral

B. Riley Securities analyst Mayank Mamtani downgrades Macrogenics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) from Buy to Neutral and lowers the price target from $18 to $5.

B. Riley Securities Downgrades Macrogenics to Neutral, Lowers Price Target to $5

TD Cowen analyst Tara Bancroft has maintained their neutral stance on MGNX stock, giving a Hold rating on July 31. Tara Bancroft's rating is based ...

Hold Rating on MacroGenics Amid Trial Uncertainties and Safety Concerns

BMO Capital analyst Etzer Darout maintained a Hold rating on MacroGenics (MGNX – Research Report) yesterday and set a price target of $5.00. Etzer ...

Maintaining Hold on MacroGenics: Discontinued Vobra Duo and Low Conviction in Competitive Market

JMP Securities analyst Silvan Tuerkcan has maintained their bullish stance on MGNX stock, giving a Buy rating on July 31. Silvan Tuerkcan has given...

Buy Rating Affirmed for MacroGenics Ahead of ESMO Meeting Amidst Positive Financials and Speculative Growth Scenarios

Leerink Partners analyst Jonathan Chang has reiterated their bullish stance on MGNX stock, giving a Buy rating yesterday. Jonathan Chang has given ...

Buy Rating Affirmed for MacroGenics: Potential Growth Amid Oncology Trials and Solid Financials

MacroGenics Faces Uncertainty After Vobra Duo Setback

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on MacroGenics (MGNX – Research Report) and Medtronic...

Analysts Offer Insights on Healthcare Companies: MacroGenics (MGNX) and Medtronic (MDT)

In a report released today, Tara Bancroft from TD Cowen maintained a Hold rating on MacroGenics (MGNX – Research Report). The company's shares clos...

MacroGenics (MGNX) Receives a Hold from TD Cowen

In a report released today, Stephen Willey from Stifel Nicolaus maintained a Hold rating on MacroGenics (MGNX – Research Report), with a price targ...

Stifel Nicolaus Reaffirms Their Hold Rating on MacroGenics (MGNX)

In a report released today, Jonathan Miller from Evercore ISI maintained a Buy rating on MacroGenics (MGNX – Research Report). The company's shares...

Evercore ISI Sticks to Their Buy Rating for MacroGenics (MGNX)

MacroGenics (MGNX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Robert Burns from H.C. W...

Assessing MacroGenics's Future: A Cautious Hold Amid Drug Safety Concerns and Market Delays

Press Releases

MGNX Deadline: MGNX Investors with Losses in Excess of $100K Have Opportunity to Lead MacroGenics, Inc. Securities Fraud Lawsuit

Investors in MacroGenics, Inc. Should Contact Levi & Korsinsky Before September 24, 2024 to Discuss Your Rights - MGNX

MacroGenics, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - MGNX

Faruqi & Faruqi Reminds MacroGenics Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of September 24, 2024 - MGNX

MGNX Deadline: Rosen Law Firm Urges MacroGenics, Inc. (NASDAQ: MGNX) Stockholders with Large Losses in Excess of $100K to Contact the Firm for Information About Their Rights

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against MacroGenics, Inc. - MGNX

Legal

Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against MacroGenics and Vicor and Encourages Investors to Contact the Firm

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