MacroGenics, Inc. (NASDAQ:MGNX) Forecasted to Post Q3 2017 Earnings of ($1.12) Per Share
MacroGenics, Inc. (NASDAQ:MGNX) – SunTrust Banks lifted their Q3 2017 earnings estimates for MacroGenics in a research report issued on Thursday. SunTrust Banks analyst P. Lawson now anticipates that the biopharmaceutical company will post earnings of ($1.12) per share for the quarter, up from their previous forecast of ($1.13). SunTrust Banks also issued estimates for MacroGenics’ Q4 2017 earnings at ($1.12) EPS, FY2017 earnings at ($4.45) EPS, FY2018 earnings at ($4.16) EPS, FY2019 earnings at ($4.07) EPS and FY2020 earnings at ($2.82) EPS.
MGNX has been the topic of several other research reports. Morgan Stanley lowered their target price on shares of MacroGenics from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, May 8th. Zacks Investment Research raised shares of MacroGenics from a “sell” rating to a “hold” rating and set a $19.00 target price on the stock in a report on Tuesday, July 18th. BidaskClub downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Monday, July 31st. ValuEngine downgraded shares of MacroGenics from a “sell” rating to a “strong sell” rating in a report on Thursday. Finally, Cowen and Company reaffirmed a “buy” rating on shares of MacroGenics in a report on Friday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. MacroGenics presently has an average rating of “Hold” and an average target price of $32.40.
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Shares of MacroGenics (NASDAQ:MGNX) opened at 17.28 on Monday. The stock’s 50 day moving average is $17.76 and its 200 day moving average is $18.87. MacroGenics has a 1-year low of $15.70 and a 1-year high of $33.30. The stock’s market capitalization is $635.87 million.
MacroGenics (NASDAQ:MGNX) last posted its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by $0.09. MacroGenics had a negative return on equity of 56.81% and a negative net margin of 1,216.51%. The firm had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $15.82 million. During the same period in the previous year, the company earned $1.12 earnings per share. The company’s revenue was down 97.9% compared to the same quarter last year.
Hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in MacroGenics by 4.3% in the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock worth $138,000 after buying an additional 328 shares in the last quarter. Ameriprise Financial Inc. increased its stake in MacroGenics by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 49,059 shares of the biopharmaceutical company’s stock worth $912,000 after buying an additional 485 shares in the last quarter. Jennison Associates LLC increased its stake in MacroGenics by 0.6% in the second quarter. Jennison Associates LLC now owns 189,970 shares of the biopharmaceutical company’s stock worth $3,326,000 after buying an additional 1,062 shares in the last quarter. American International Group Inc. increased its stake in MacroGenics by 7.1% in the first quarter. American International Group Inc. now owns 19,632 shares of the biopharmaceutical company’s stock worth $365,000 after buying an additional 1,300 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in MacroGenics by 7.8% in the first quarter. Stifel Financial Corp now owns 20,155 shares of the biopharmaceutical company’s stock worth $370,000 after buying an additional 1,450 shares in the last quarter. 82.96% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Jon Marc Wigginton sold 5,000 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the sale, the senior vice president now owns 35,000 shares of the company’s stock, valued at $700,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.30% of the stock is currently owned by insiders.
MacroGenics Company Profile
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.
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