Wall Street brokerages predict that MacroGenics, Inc. (NASDAQ:MGNX) will post ($0.25) earnings per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for MacroGenics’ earnings, with the lowest EPS estimate coming in at ($1.12) and the highest estimate coming in at $1.45. MacroGenics posted earnings of ($0.94) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 73.4%. The business is scheduled to issue its next earnings report on Thursday, July 29th.
According to Zacks, analysts expect that MacroGenics will report full-year earnings of ($1.43) per share for the current financial year, with EPS estimates ranging from ($2.00) to ($1.12). For the next year, analysts forecast that the firm will post earnings of ($1.98) per share, with EPS estimates ranging from ($2.84) to ($0.84). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow MacroGenics.
MacroGenics (NASDAQ:MGNX) last issued its earnings results on Thursday, April 29th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.37). MacroGenics had a negative net margin of 204.31% and a negative return on equity of 65.84%.
A number of brokerages recently weighed in on MGNX. Morgan Stanley lifted their price objective on shares of MacroGenics from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Monday. Barclays raised MacroGenics from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $14.00 to $40.00 in a research note on Thursday, March 18th. Zacks Investment Research cut MacroGenics from a “hold” rating to a “sell” rating in a research note on Tuesday. HC Wainwright lifted their target price on MacroGenics from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Friday. Finally, SVB Leerink raised their price objective on shares of MacroGenics from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. MacroGenics currently has a consensus rating of “Buy” and a consensus target price of $33.09.
In other MacroGenics news, General Counsel Jeffrey Stuart Peters sold 21,749 shares of the company’s stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $26.50, for a total transaction of $576,348.50. Following the sale, the general counsel now directly owns 21,749 shares of the company’s stock, valued at $576,348.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Thomas Spitznagel sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 15th. The stock was sold at an average price of $30.91, for a total transaction of $154,550.00. Following the sale, the senior vice president now directly owns 5,000 shares in the company, valued at $154,550. The disclosure for this sale can be found here. Insiders sold 45,666 shares of company stock valued at $1,351,243 in the last three months. Company insiders own 9.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its stake in shares of MacroGenics by 5.8% during the fourth quarter. Arizona State Retirement System now owns 14,909 shares of the biopharmaceutical company’s stock valued at $341,000 after purchasing an additional 823 shares during the last quarter. Penserra Capital Management LLC raised its holdings in MacroGenics by 182.3% in the 4th quarter. Penserra Capital Management LLC now owns 1,310 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 846 shares during the period. Virginia Retirement Systems ET AL increased its stake in MacroGenics by 9.2% during the 1st quarter. Virginia Retirement Systems ET AL now owns 11,900 shares of the biopharmaceutical company’s stock worth $379,000 after acquiring an additional 1,000 shares during the period. SG Americas Securities LLC increased its position in shares of MacroGenics by 10.1% in the fourth quarter. SG Americas Securities LLC now owns 17,743 shares of the biopharmaceutical company’s stock worth $406,000 after purchasing an additional 1,631 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of MacroGenics by 186.2% in the fourth quarter. Pacer Advisors Inc. now owns 3,185 shares of the biopharmaceutical company’s stock worth $73,000 after purchasing an additional 2,072 shares during the period. 95.80% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:MGNX opened at $33.13 on Friday. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -10.58 and a beta of 2.40. The business’s 50-day simple moving average is $32.14 and its 200 day simple moving average is $24.88. MacroGenics has a one year low of $6.51 and a one year high of $36.48.
MacroGenics Company Profile
MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. The company's approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.
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