MacroGenics Inc Forecasted to Earn FY2022 Earnings of $9.69 Per Share (MGNX)

MacroGenics Inc (NASDAQ:MGNX) – Stock analysts at Wedbush issued their FY2022 earnings estimates for MacroGenics in a note issued to investors on Thursday. Wedbush analyst D. Nierengarten expects that the biopharmaceutical company will post earnings of $9.69 per share for the year.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) EPS 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 business had revenue of $1.70 million during the quarter, compared to analyst estimates of $5.50 million. During the same quarter in the prior year, the business earned ($0.97) earnings per share. The firm’s revenue was down 48.5% compared to the same quarter last year.

MGNX has been the topic of several other reports. Zacks Investment Research cut MacroGenics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. BidaskClub cut MacroGenics from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 14th. ValuEngine cut MacroGenics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 14th. Raymond James Financial reiterated a “buy” rating on shares of MacroGenics in a research report on Monday, December 11th. Finally, Cowen reiterated a “buy” rating on shares of MacroGenics in a research report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $30.10.

MacroGenics (NASDAQ MGNX) traded up $0.30 on Monday, reaching $19.19. The company had a trading volume of 259,900 shares, compared to its average volume of 196,500. MacroGenics has a 12-month low of $14.36 and a 12-month high of $22.31. The firm has a market cap of $706.63, a PE ratio of -4.27 and a beta of 2.73.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in shares of MacroGenics during the 2nd quarter worth $133,000. Legal & General Group Plc boosted its stake in shares of MacroGenics by 4.3% during the 2nd quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock worth $138,000 after acquiring an additional 328 shares in the last quarter. Parametric Portfolio Associates LLC bought a new stake in shares of MacroGenics during the 2nd quarter worth $203,000. Virtu KCG Holdings LLC bought a new stake in shares of MacroGenics during the 2nd quarter worth $232,000. Finally, Citigroup Inc. boosted its stake in shares of MacroGenics by 8.4% during the 2nd quarter. Citigroup Inc. now owns 18,975 shares of the biopharmaceutical company’s stock worth $332,000 after acquiring an additional 1,466 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Jon Marc Wigginton sold 10,000 shares of MacroGenics stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the transaction, the senior vice president now directly owns 40,000 shares in the company, valued at approximately $800,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 20,000 shares of company stock worth $400,000. 8.30% of the stock is owned by insiders.

ILLEGAL ACTIVITY NOTICE: “MacroGenics Inc Forecasted to Earn FY2022 Earnings of $9.69 Per Share (MGNX)” was originally published by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The legal version of this story can be read at https://www.americanbankingnews.com/2018/01/22/macrogenics-inc-forecasted-to-earn-fy2022-earnings-of-9-69-per-share-mgnx.html.

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)

Receive News & Ratings for MacroGenics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MacroGenics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply