MacroGenics, Inc. (MGNX) to Release Quarterly Earnings on Wednesday
MacroGenics, Inc. (NASDAQ:MGNX) will be announcing its earnings results after the market closes on Wednesday, November 8th. Analysts expect the company to announce earnings of ($1.09) per share for the quarter.
MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the Zacks’ 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 company had revenue of $1.70 million during the quarter, compared to the consensus estimate of $15.82 million. During the same period in the previous year, the business earned $1.12 earnings per share. MacroGenics’s revenue was down 97.9% on a year-over-year basis. On average, analysts expect MacroGenics to post $-4.24 EPS for the current fiscal year and $-4.03 EPS for the next fiscal year.
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Several research analysts recently weighed in on MGNX shares. Zacks Investment Research downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. 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, August 3rd. Cowen and Company reaffirmed a “buy” rating on shares of MacroGenics in a report on Friday, August 4th. Finally, Morgan Stanley dropped their target price on shares of MacroGenics from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, August 7th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. MacroGenics currently has a consensus rating of “Hold” and an average price target of $30.30.
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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