Brokerages Anticipate MacroGenics, Inc. (NASDAQ:MGNX) Will Post Earnings of -$0.51 Per Share

Wall Street analysts predict that MacroGenics, Inc. (NASDAQ:MGNX) will report earnings of ($0.51) per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for MacroGenics’ earnings, with estimates ranging from ($0.78) to ($0.16). MacroGenics reported earnings per share of ($0.91) in the same quarter last year, which suggests a positive year over year growth rate of 44%. The company is scheduled to announce its next quarterly earnings report on Tuesday, May 4th.

According to Zacks, analysts expect that MacroGenics will report full year earnings of ($1.35) per share for the current financial year, with EPS estimates ranging from ($2.00) to ($0.65). For the next fiscal year, analysts forecast that the business will report earnings of ($1.90) per share, with EPS estimates ranging from ($2.48) to ($0.84). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow MacroGenics.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Thursday, February 25th. The biopharmaceutical company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.60. The business had revenue of $52.69 million for the quarter, compared to the consensus estimate of $31.54 million. MacroGenics had a negative return on equity of 65.84% and a negative net margin of 204.31%.

Several equities analysts recently issued reports on the company. Morgan Stanley upped their target price on MacroGenics from $15.00 to $16.00 and gave the company an “underweight” rating in a research report on Monday. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price target on shares of MacroGenics in a research note on Tuesday, December 22nd. Zacks Investment Research lowered shares of MacroGenics from a “buy” rating to a “hold” rating in a research note on Thursday, February 25th. Finally, Barclays raised shares of MacroGenics from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $14.00 to $40.00 in a research report on Thursday, March 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. MacroGenics currently has a consensus rating of “Buy” and an average price target of $32.27.

In other news, CFO James Karrels sold 15,000 shares of the stock in a transaction on Monday, March 22nd. The shares were sold at an average price of $33.00, for a total value of $495,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ezio Bonvini sold 3,917 shares of the stock in a transaction on Monday, March 22nd. The stock was sold at an average price of $32.00, for a total transaction of $125,344.00. Following the completion of the sale, the senior vice president now directly owns 79,890 shares of the company’s stock, valued at approximately $2,556,480. The disclosure for this sale can be found here. Insiders have sold 45,666 shares of company stock worth $1,351,243 in the last three months. Insiders own 9.00% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGNX. Marshall Wace LLP acquired a new stake in MacroGenics during the 1st quarter valued at $80,000. Marshall Wace North America L.P. acquired a new position in MacroGenics during the 1st quarter worth $59,000. Wells Fargo & Company MN grew its holdings in MacroGenics by 7.6% during the 3rd quarter. Wells Fargo & Company MN now owns 55,798 shares of the biopharmaceutical company’s stock worth $1,407,000 after acquiring an additional 3,949 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of MacroGenics by 22.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 19,681 shares of the biopharmaceutical company’s stock worth $496,000 after buying an additional 3,558 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of MacroGenics by 739.1% in the 3rd quarter. Great West Life Assurance Co. Can now owns 27,380 shares of the biopharmaceutical company’s stock worth $423,000 after buying an additional 24,117 shares during the last quarter. 95.80% of the stock is owned by institutional investors and hedge funds.

MacroGenics stock traded up $0.04 during mid-day trading on Wednesday, reaching $33.70. 1,164,357 shares of the company were exchanged, compared to its average volume of 787,771. The business has a fifty day moving average of $30.18 and a 200 day moving average of $24.32. The firm has a market cap of $2.02 billion, a P/E ratio of -10.78 and a beta of 2.40. MacroGenics has a 12-month low of $6.51 and a 12-month high of $34.29.

About MacroGenics

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.

Recommended Story: Dividend Aristocrat Index

Get a free copy of the Zacks research report on MacroGenics (MGNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for MacroGenics (NASDAQ:MGNX)

Receive News & Ratings for MacroGenics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MacroGenics and related companies with MarketBeat.com's FREE daily email newsletter.