MacroGenics, Inc. (MGNX) Expected to Post Earnings of -$1.03 Per Share
Analysts expect MacroGenics, Inc. (NASDAQ:MGNX) to post earnings of ($1.03) per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for MacroGenics’ earnings, with the highest EPS estimate coming in at ($0.77) and the lowest estimate coming in at ($1.21). MacroGenics reported earnings per share of ($0.97) in the same quarter last year, which indicates a negative year-over-year growth rate of 6.2%. The business is expected to report its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that MacroGenics will report full-year earnings of ($4.26) per share for the current fiscal year, with EPS estimates ranging from ($4.69) to ($3.77). For the next fiscal year, analysts expect that the business will report earnings of ($3.94) per share, with EPS estimates ranging from ($4.76) to ($3.18). Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow MacroGenics.
MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.09). The company had revenue of $1.70 million during the quarter, compared to analyst estimates of $15.82 million. MacroGenics had a negative return on equity of 56.81% and a negative net margin of 1,216.51%. The company’s revenue was down 97.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.12 earnings per share.
Several research analysts have recently issued reports on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $34.00 target price on shares of MacroGenics in a research note on Tuesday, September 12th. SunTrust Banks, Inc. restated a “buy” rating and set a $26.00 target price on shares of MacroGenics in a report on Friday, September 1st. Zacks Investment Research downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. ValuEngine downgraded shares of MacroGenics from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Finally, BidaskClub upgraded shares of MacroGenics from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $30.30.
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Shares of MacroGenics (NASDAQ:MGNX) traded down 2.67% during mid-day trading on Tuesday, hitting $16.39. 87,924 shares of the stock were exchanged. The company’s 50-day moving average is $17.69 and its 200-day moving average is $18.14. MacroGenics has a 1-year low of $14.36 and a 1-year high of $31.85. The firm’s market cap is $603.12 million.
Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in MacroGenics in the second quarter valued at about $133,000. Legal & General Group Plc raised 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 valued at $138,000 after purchasing an additional 328 shares in the last quarter. SG Americas Securities LLC raised its stake in MacroGenics by 92.2% in the second quarter. SG Americas Securities LLC now owns 10,812 shares of the biopharmaceutical company’s stock valued at $189,000 after purchasing an additional 5,187 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new position in MacroGenics in the second quarter valued at about $203,000. Finally, Virtu KCG Holdings LLC acquired a new position in MacroGenics in the second quarter valued at about $232,000. 84.63% of the stock is owned by institutional investors and hedge funds.
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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