MacroGenics, Inc. (NASDAQ:MGNX) to Post FY2017 Earnings of ($4.69) Per Share, Leerink Swann Forecasts
MacroGenics, Inc. (NASDAQ:MGNX) – Stock analysts at Leerink Swann boosted their FY2017 earnings estimates for MacroGenics in a research note issued to investors on Wednesday. Leerink Swann analyst M. Schmidt now expects that the biopharmaceutical company will earn ($4.69) per share for the year, up from their prior estimate of ($4.71). Leerink Swann also issued estimates for MacroGenics’ Q4 2017 earnings at ($1.23) EPS and FY2018 earnings at ($4.76) EPS.
A number of other brokerages also recently commented on MGNX. Zacks Investment Research downgraded MacroGenics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Morgan Stanley reduced their price objective on MacroGenics from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, May 8th. Cowen and Company reiterated a “buy” rating on shares of MacroGenics in a research report on Friday. ValuEngine downgraded MacroGenics from a “sell” rating to a “strong sell” rating in a research report on Thursday. Finally, BidaskClub downgraded MacroGenics from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $32.40.
Shares of MacroGenics (NASDAQ MGNX) opened at 17.28 on Monday. The company’s 50-day moving average price is $17.76 and its 200 day moving average price is $18.87. The stock’s market cap is $635.87 million. MacroGenics has a 12-month low of $15.70 and a 12-month high of $33.30.
MacroGenics (NASDAQ:MGNX) last released its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.05) by $0.09. MacroGenics had a negative net margin of 1,216.51% and a negative return on equity of 56.81%. The company had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $15.82 million. During the same quarter in the previous year, the company posted $1.12 EPS. The business’s quarterly revenue was down 97.9% on a year-over-year basis.
In other MacroGenics news, SVP Jon Marc Wigginton sold 5,000 shares of MacroGenics stock in a transaction on Monday, June 5th. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the sale, the senior vice president now owns 35,000 shares in the company, valued at $700,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.30% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of MGNX. OppenheimerFunds Inc. increased its stake in MacroGenics by 9.4% in the first quarter. OppenheimerFunds Inc. now owns 3,323,025 shares of the biopharmaceutical company’s stock worth $61,808,000 after buying an additional 286,018 shares in the last quarter. BB Biotech AG increased its stake in MacroGenics by 17.7% in the first quarter. BB Biotech AG now owns 2,260,000 shares of the biopharmaceutical company’s stock worth $42,036,000 after buying an additional 340,000 shares in the last quarter. Vanguard Group Inc. increased its stake in MacroGenics by 3.4% in the first quarter. Vanguard Group Inc. now owns 1,352,864 shares of the biopharmaceutical company’s stock worth $25,163,000 after buying an additional 44,680 shares in the last quarter. State Street Corp increased its stake in MacroGenics by 20.0% in the first quarter. State Street Corp now owns 1,007,211 shares of the biopharmaceutical company’s stock worth $18,732,000 after buying an additional 167,720 shares in the last quarter. Finally, Hood River Capital Management LLC increased its stake in MacroGenics by 17.2% in the first quarter. Hood River Capital Management LLC now owns 563,143 shares of the biopharmaceutical company’s stock worth $10,474,000 after buying an additional 82,691 shares in the last quarter. Institutional investors own 82.34% of the company’s stock.
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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