Zacks: Analysts Expect MacroGenics Inc (MGNX) Will Announce Earnings of $2.58 Per Share

Wall Street analysts predict that MacroGenics Inc (NASDAQ:MGNX) will announce earnings of $2.58 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for MacroGenics’ earnings. The lowest EPS estimate is $2.29 and the highest is $2.99. 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 firm is expected to announce its next earnings results on Tuesday, February 27th.

According to Zacks, 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 anticipate that the business will post earnings of ($5.02) per share, with EPS estimates ranging from ($5.69) to ($4.44). Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for MacroGenics.

MacroGenics (NASDAQ:MGNX) last released its earnings results 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). The firm had revenue of $1.70 million during the quarter, compared to analyst estimates of $5.50 million. MacroGenics had a negative net margin of 1,526.55% and a negative return on equity of 69.31%. The business’s revenue was down 48.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.97) earnings per share.

Several equities analysts have weighed in on the company. Zacks Investment Research downgraded MacroGenics from a “hold” rating to a “sell” rating in a research report on Tuesday. BidaskClub raised MacroGenics from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 25th. Cowen reaffirmed a “buy” rating on shares of MacroGenics in a research report on Wednesday, January 24th. SunTrust Banks reaffirmed a “buy” rating and issued a $31.00 target price on shares of MacroGenics in a research report on Tuesday, January 23rd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $28.00 target price on shares of MacroGenics in a research report on Tuesday, January 23rd. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. MacroGenics has a consensus rating of “Hold” and a consensus target price of $30.60.

MacroGenics (MGNX) traded down $0.26 during midday trading on Thursday, reaching $22.36. The company’s stock had a trading volume of 273,798 shares, compared to its average volume of 236,537. The firm has a market cap of $802.37, a P/E ratio of -4.97 and a beta of 2.80. MacroGenics has a 52 week low of $14.36 and a 52 week high of $23.90.

In other news, SVP Jon Marc Wigginton sold 5,000 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $20.00, for a total transaction of $100,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eric Blasius Risser sold 3,000 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $22.50, for a total value of $67,500.00. Following the transaction, the senior vice president now directly owns 12,100 shares of the company’s stock, valued at $272,250. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,000 shares of company stock valued at $267,500. Corporate insiders own 8.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in MGNX. Legal & General Group Plc boosted its holdings 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. Parametric Portfolio Associates LLC acquired a new position in MacroGenics in the second quarter valued at approximately $203,000. Teacher Retirement System of Texas acquired a new position in MacroGenics in the fourth quarter valued at approximately $225,000. Virtu KCG Holdings LLC acquired a new position in MacroGenics in the second quarter valued at approximately $232,000. Finally, Citigroup Inc. boosted its holdings in MacroGenics by 8.4% in the second quarter. Citigroup Inc. now owns 18,975 shares of the biopharmaceutical company’s stock valued at $332,000 after purchasing an additional 1,466 shares in the last quarter. 85.53% of the stock is 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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