Zacks: Analysts Expect MacroGenics, Inc. (MGNX) to Post $2.58 EPS

Analysts expect MacroGenics, Inc. (NASDAQ:MGNX) to announce earnings of $2.58 per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for MacroGenics’ earnings, with the highest EPS estimate coming in at $2.99 and the lowest estimate coming in at $2.29. MacroGenics posted earnings of ($1.00) per share during the same quarter last year, which would suggest a positive year over year growth rate of 358%. The business is expected to issue its next quarterly earnings results on Tuesday, February 27th.

On average, analysts expect that MacroGenics will report full-year earnings of ($0.70) per share for the current year, with EPS estimates ranging from ($0.94) to ($0.43). For the next fiscal year, analysts expect that the firm will report earnings of ($5.04) per share, with EPS estimates ranging from ($5.69) to ($4.33). Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for MacroGenics.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.19). MacroGenics had a negative net margin of 1,526.55% and a negative return on equity of 69.31%. The firm had revenue of $1.70 million for the quarter, compared to the consensus estimate of $5.50 million. During the same period last year, the company posted ($0.97) earnings per share. MacroGenics’s revenue for the quarter was down 48.5% on a year-over-year basis.

Several equities research analysts have issued reports on the company. ValuEngine upgraded MacroGenics from a “strong sell” rating to a “sell” rating in a research report on Friday. Cowen restated a “buy” rating on shares of MacroGenics in a research report on Wednesday, October 25th. SunTrust Banks reiterated a “buy” rating and issued a $26.00 price objective on shares of MacroGenics in a research report on Friday, September 1st. Citigroup increased their price objective on MacroGenics from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 10th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $34.00 price objective on shares of MacroGenics in a research report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $30.10.

Shares of MacroGenics (MGNX) traded up $0.07 during midday trading on Friday, reaching $19.39. The company’s stock had a trading volume of 354,471 shares, compared to its average volume of 238,964. MacroGenics has a 1-year low of $14.36 and a 1-year high of $28.48.

In other news, SVP Jon Marc Wigginton sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $20.00, for a total transaction of $100,000.00. Following the transaction, the senior vice president now directly owns 35,000 shares of the company’s stock, valued at $700,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.30% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in MGNX. Vanguard Group Inc. grew its stake in shares of 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 purchasing an additional 44,680 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of MacroGenics by 4.4% in the first quarter. Geode Capital Management LLC now owns 260,670 shares of the biopharmaceutical company’s stock worth $4,847,000 after purchasing an additional 10,983 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of MacroGenics in the first quarter worth about $810,000. Renaissance Technologies LLC bought a new stake in shares of MacroGenics in the first quarter worth about $2,435,000. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of MacroGenics by 7.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 122,969 shares of the biopharmaceutical company’s stock worth $2,288,000 after purchasing an additional 8,108 shares during the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

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About MacroGenics

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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Earnings History and Estimates for MacroGenics (NASDAQ:MGNX)

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