Analysts expect that MacroGenics, Inc. (NASDAQ:MGNX) will post earnings per share (EPS) of $1.60 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for MacroGenics’ earnings. The lowest EPS estimate is ($0.88) and the highest is $2.99. MacroGenics posted earnings per share of ($1.00) during the same quarter last year, which would indicate a positive year-over-year growth rate of 260%. The company is expected to announce its next earnings report on Tuesday, February 27th.
On average, analysts expect that MacroGenics will report full-year earnings of ($2.02) per share for the current year, with EPS estimates ranging from ($4.40) to ($0.14). For the next financial year, analysts expect that the business will post earnings of ($4.48) per share, with EPS estimates ranging from ($5.69) to ($3.27). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for MacroGenics.
MacroGenics (NASDAQ:MGNX) last issued its quarterly 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). The firm had revenue of $1.70 million for the quarter, compared to the consensus estimate 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 for the quarter was down 48.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.97) earnings per share.
A number of equities analysts have issued reports on MGNX shares. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $26.00 price target on shares of MacroGenics in a research note on Friday, September 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $34.00 price target on shares of MacroGenics in a research note on Tuesday, September 12th. Cowen and Company reaffirmed a “buy” rating on shares of MacroGenics in a research note on Friday, August 4th. Morgan Stanley decreased their price target on MacroGenics from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, August 7th. Finally, Zacks Investment Research lowered MacroGenics from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $30.10.
In other news, SVP Jon Marc Wigginton sold 10,000 shares of the stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the senior vice president now owns 40,000 shares in the company, valued at $800,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its holdings in shares of MacroGenics by 4.3% during the second 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. Ameriprise Financial Inc. raised its holdings in shares of MacroGenics by 1.0% during the first quarter. Ameriprise Financial Inc. now owns 49,059 shares of the biopharmaceutical company’s stock worth $912,000 after acquiring an additional 485 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of MacroGenics by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 26,485 shares of the biopharmaceutical company’s stock worth $463,000 after acquiring an additional 743 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its holdings in shares of MacroGenics by 3.8% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 23,238 shares of the biopharmaceutical company’s stock worth $406,000 after acquiring an additional 848 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of MacroGenics by 0.6% during the second quarter. Jennison Associates LLC now owns 189,970 shares of the biopharmaceutical company’s stock worth $3,326,000 after acquiring an additional 1,062 shares in the last quarter. Institutional investors own 84.72% of the company’s stock.
MacroGenics (NASDAQ MGNX) opened at $17.85 on Tuesday. MacroGenics has a one year low of $14.36 and a one year high of $31.85.
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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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