Equities research analysts forecast that MacroGenics Inc (NASDAQ:MGNX) will report ($1.31) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for MacroGenics’ earnings. The highest EPS estimate is ($1.05) and the lowest is ($1.48). MacroGenics posted earnings per share of ($1.28) during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.3%. The business is expected to announce its next earnings report on Wednesday, November 14th.
According to Zacks, analysts expect that MacroGenics will report full-year earnings of ($4.77) per share for the current year, with EPS estimates ranging from ($5.33) to ($3.00). For the next year, analysts expect that the company will post earnings of ($4.36) per share, with EPS estimates ranging from ($5.70) to ($3.09). Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for MacroGenics.
MacroGenics (NASDAQ:MGNX) last released its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($1.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.20) by $0.17. The firm had revenue of $18.83 million during the quarter, compared to analyst estimates of $4.41 million. MacroGenics had a negative return on equity of 13.01% and a negative net margin of 19.20%.
MGNX has been the subject of several recent research reports. ValuEngine lowered MacroGenics from a “hold” rating to a “sell” rating in a research report on Monday, April 23rd. Zacks Investment Research raised MacroGenics from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Wednesday, May 2nd. HC Wainwright set a $34.00 price target on MacroGenics and gave the stock a “buy” rating in a research report on Tuesday, May 8th. Wedbush reissued an “outperform” rating and issued a $44.00 price target on shares of MacroGenics in a research report on Tuesday, May 8th. Finally, BidaskClub lowered MacroGenics from a “hold” rating to a “sell” rating in a research report on Friday, May 11th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $30.67.
MGNX opened at $20.01 on Friday. The firm has a market capitalization of $900.92 million, a PE ratio of -37.06 and a beta of 2.41. MacroGenics has a 12 month low of $15.33 and a 12 month high of $32.74.
A number of large investors have recently made changes to their positions in MGNX. SG Americas Securities LLC acquired a new stake in MacroGenics during the first quarter worth $119,000. Sun Life Financial INC acquired a new stake in MacroGenics during the second quarter worth $168,000. Alambic Investment Management L.P. acquired a new stake in MacroGenics during the first quarter worth $215,000. Algert Global LLC acquired a new stake in MacroGenics during the second quarter worth $203,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in MacroGenics by 33.7% during the second quarter. Metropolitan Life Insurance Co. NY now owns 13,178 shares of the biopharmaceutical company’s stock worth $272,000 after acquiring an additional 3,323 shares during the last quarter. 89.80% of the stock is currently owned by institutional investors.
MacroGenics, Inc, a biopharmaceutical company, focuses on the discovery and development of antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, as well as various autoimmune disorders and infectious diseases in the United States. The company's advanced clinical product candidate is Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets human epidermal growth factor receptor 2-expressing tumors, such as various breast and gastroesophageal cancers.
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