Leerink Swann Comments on MacroGenics, Inc.’s FY2017 Earnings (MGNX)

MacroGenics, Inc. (NASDAQ:MGNX) – Investment analysts at Leerink Swann lifted their FY2017 earnings per share (EPS) estimates for shares of MacroGenics in a report released on Thursday. Leerink Swann analyst M. Schmidt now forecasts that the biopharmaceutical company will earn ($0.77) per share for the year, up from their previous forecast of ($4.69). Leerink Swann also issued estimates for MacroGenics’ Q4 2017 earnings at $2.60 EPS and FY2018 earnings at ($5.69) EPS.

A number of other research analysts have also weighed in on the stock. ValuEngine lowered shares of MacroGenics from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Citigroup Inc. boosted their target price on shares of MacroGenics from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday. Cowen and Company reissued a “buy” rating on shares of MacroGenics in a research report on Wednesday, October 25th. Zacks Investment Research raised shares of MacroGenics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $34.00 price objective on shares of MacroGenics in a research report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $30.10.

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MacroGenics (MGNX) opened at $17.85 on Monday. MacroGenics has a 52-week low of $14.36 and a 52-week high of $31.85.

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 Zacks’ consensus estimate of ($1.09) by ($0.19). The firm had revenue of $1.70 million for the quarter, compared to analyst estimates of $5.50 million. MacroGenics had a negative return on equity of 69.31% and a negative net margin of 1,526.55%. The firm’s revenue was down 48.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.97) EPS.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc increased its stake 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 acquiring an additional 328 shares during the period. Ameriprise Financial Inc. increased its stake in MacroGenics by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 49,059 shares of the biopharmaceutical company’s stock valued at $912,000 after acquiring an additional 485 shares during the period. The Manufacturers Life Insurance Company increased its stake in MacroGenics by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 26,485 shares of the biopharmaceutical company’s stock valued at $463,000 after acquiring an additional 743 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake in MacroGenics by 3.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 23,238 shares of the biopharmaceutical company’s stock valued at $406,000 after acquiring an additional 848 shares during the period. Finally, Jennison Associates LLC increased its stake in MacroGenics by 0.6% in the second quarter. Jennison Associates LLC now owns 189,970 shares of the biopharmaceutical company’s stock valued at $3,326,000 after acquiring an additional 1,062 shares during the period. 84.72% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Jon Marc Wigginton sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the sale, the senior vice president now owns 40,000 shares of the company’s stock, valued at $800,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.30% of the company’s stock.

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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