MacroGenics, Inc. (MGNX) Expected to Announce Earnings of -$1.03 Per Share
Wall Street brokerages expect that MacroGenics, Inc. (NASDAQ:MGNX) will post earnings per share of ($1.03) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for MacroGenics’ earnings. The highest EPS estimate is ($0.77) and the lowest is ($1.21). MacroGenics reported earnings per share of ($0.97) in the same quarter last year, which suggests a negative year over year growth rate of 6.2%. The business is expected to issue its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that MacroGenics will report full-year earnings of ($4.27) per share for the current year, with EPS estimates ranging from ($4.69) to ($3.77). For the next year, analysts forecast that the company will report earnings of ($3.96) per share, with EPS estimates ranging from ($4.76) to ($3.18). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for MacroGenics.
MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing the Zacks’ 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 analyst estimates of $15.82 million. During the same quarter in the previous year, the company posted $1.12 EPS. The company’s revenue for the quarter was down 97.9% compared to the same quarter last year.
Several analysts have issued reports on MGNX shares. Wedbush reaffirmed an “outperform” rating and issued a $44.00 price objective on shares of MacroGenics in a research report on Monday, September 11th. Cowen and Company reaffirmed a “buy” rating on shares of MacroGenics in a research report on Friday, August 4th. Zacks Investment Research raised shares of MacroGenics from a “sell” rating to a “hold” rating and set a $19.00 price objective for the company in a research report on Tuesday, July 18th. BidaskClub downgraded shares of MacroGenics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Finally, Morgan Stanley lowered their price objective on shares of MacroGenics from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, August 7th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $30.30.
Shares of MacroGenics (NASDAQ:MGNX) traded up 2.05% on Friday, reaching $17.45. 317,331 shares of the company’s stock were exchanged. The firm’s market capitalization is $642.13 million. MacroGenics has a one year low of $14.36 and a one year high of $32.68. The firm has a 50 day moving average of $17.02 and a 200 day moving average of $18.38.
Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in shares of MacroGenics during the second quarter worth approximately $133,000. Legal & General Group Plc grew its position in shares of MacroGenics by 4.3% during 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. SG Americas Securities LLC grew its position in shares of MacroGenics by 92.2% during the second quarter. SG Americas Securities LLC now owns 10,812 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 5,187 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new stake in shares of MacroGenics during the second quarter worth approximately $203,000. Finally, Virtu KCG Holdings LLC acquired a new stake in shares of MacroGenics during the second quarter worth approximately $232,000. 84.47% of the stock is owned by institutional investors and hedge funds.
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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