MacroGenics Inc (NASDAQ:MGNX) Expected to Announce Earnings of -$0.96 Per Share

Brokerages expect that MacroGenics Inc (NASDAQ:MGNX) will post ($0.96) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have made estimates for MacroGenics’ earnings, with the lowest EPS estimate coming in at ($1.33) and the highest estimate coming in at ($0.38). MacroGenics reported earnings of ($1.03) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 6.8%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, August 6th.

According to Zacks, analysts expect that MacroGenics will report full year earnings of ($3.75) per share for the current fiscal year, with EPS estimates ranging from ($5.01) to ($2.18). For the next fiscal year, analysts forecast that the business will post earnings of ($4.35) per share, with EPS estimates ranging from ($5.47) to ($3.15). Zacks’ earnings per share averages are a mean 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, May 1st. The biopharmaceutical company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.04). MacroGenics had a negative return on equity of 57.65% and a negative net margin of 256.47%. The business had revenue of $9.66 million for the quarter, compared to the consensus estimate of $11.46 million.



MGNX has been the topic of several analyst reports. Cowen reissued a “buy” rating on shares of MacroGenics in a research report on Wednesday, June 5th. ValuEngine cut shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. Stifel Nicolaus cut their price target on shares of MacroGenics from $36.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Guggenheim assumed coverage on shares of MacroGenics in a research report on Friday, April 12th. They set a “neutral” rating on the stock. Finally, Wedbush raised shares of MacroGenics from a “neutral” rating to an “outperform” rating and set a $26.00 target price on the stock in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $31.62.

NASDAQ:MGNX traded up $0.77 on Monday, hitting $15.99. 25,657 shares of the company’s stock were exchanged, compared to its average volume of 928,142. The business has a 50-day simple moving average of $17.18. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.47 and a current ratio of 6.47. MacroGenics has a 52 week low of $9.87 and a 52 week high of $32.32. The stock has a market capitalization of $742.89 million, a P/E ratio of -3.82 and a beta of 2.60.

In other news, SVP Eric Blasius Risser sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $18.54, for a total value of $74,160.00. Following the sale, the senior vice president now directly owns 33,806 shares of the company’s stock, valued at approximately $626,763.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.88% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in MGNX. Morgan Stanley raised its stake in MacroGenics by 6.3% during the third quarter. Morgan Stanley now owns 114,926 shares of the biopharmaceutical company’s stock valued at $2,464,000 after buying an additional 6,842 shares in the last quarter. Rhumbline Advisers boosted its stake in MacroGenics by 48.8% during the 4th quarter. Rhumbline Advisers now owns 51,665 shares of the biopharmaceutical company’s stock valued at $656,000 after purchasing an additional 16,950 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in MacroGenics during the 4th quarter valued at $304,000. Prudential Financial Inc. bought a new position in MacroGenics during the 4th quarter valued at $965,000. Finally, Acadian Asset Management LLC bought a new position in MacroGenics during the 4th quarter valued at $65,000. Institutional investors and hedge funds own 90.52% of the company’s stock.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.

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Earnings History and Estimates for MacroGenics (NASDAQ:MGNX)

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