MacroGenics Inc Forecasted to Earn FY2022 Earnings of ($1.39) Per Share (MGNX)

MacroGenics Inc (NASDAQ:MGNX) – Equities research analysts at SunTrust Banks issued their FY2022 EPS estimates for MacroGenics in a research note issued on Thursday. SunTrust Banks analyst P. Lawson anticipates that the biopharmaceutical company will post earnings of ($1.39) per share for the year.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.19). MacroGenics had a negative return on equity of 69.31% and a negative net margin of 1,526.55%. The company had revenue of $1.70 million during the quarter, compared to analyst estimates of $5.50 million. During the same period last year, the business earned ($0.97) earnings per share. The firm’s revenue was down 48.5% compared to the same quarter last year.

Other analysts also recently issued reports about the company. BidaskClub downgraded MacroGenics from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 11th. Zacks Investment Research downgraded MacroGenics from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. ValuEngine raised MacroGenics from a “strong sell” rating to a “sell” rating in a research note on Friday, December 1st. Raymond James Financial reaffirmed a “buy” rating on shares of MacroGenics in a research note on Monday, December 11th. Finally, Citigroup raised their target price on MacroGenics from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, November 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $30.10.

Shares of MacroGenics (NASDAQ MGNX) traded up $0.30 on Monday, hitting $19.19. The company’s stock had a trading volume of 259,900 shares, compared to its average volume of 196,500. MacroGenics has a twelve month low of $14.36 and a twelve month high of $22.31. The firm has a market cap of $706.63, a P/E ratio of -4.27 and a beta of 2.73.

In related 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 completion of the sale, the senior vice president now directly owns 35,000 shares of the company’s stock, valued at approximately $700,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 20,000 shares of company stock valued at $400,000 over the last three months. Corporate insiders own 8.30% of the company’s stock.

Several large investors have recently modified their holdings of MGNX. Wasatch Advisors Inc. increased its position in shares of MacroGenics by 5,159.3% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,044,243 shares of the biopharmaceutical company’s stock worth $18,285,000 after purchasing an additional 1,024,388 shares during the last quarter. FMR LLC boosted its holdings in MacroGenics by 6.0% during the 2nd quarter. FMR LLC now owns 5,238,917 shares of the biopharmaceutical company’s stock valued at $91,733,000 after acquiring an additional 295,553 shares during the period. Pinnacle Associates Ltd. boosted its holdings in MacroGenics by 38.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 843,175 shares of the biopharmaceutical company’s stock valued at $15,582,000 after acquiring an additional 233,657 shares during the period. Dimensional Fund Advisors LP boosted its holdings in MacroGenics by 314.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 180,739 shares of the biopharmaceutical company’s stock valued at $3,165,000 after acquiring an additional 137,167 shares during the period. Finally, Sphera Funds Management LTD. boosted its holdings in MacroGenics by 157.0% during the 3rd quarter. Sphera Funds Management LTD. now owns 208,700 shares of the biopharmaceutical company’s stock valued at $3,857,000 after acquiring an additional 127,500 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

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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.

Earnings History and Estimates for MacroGenics (NASDAQ:MGNX)

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