Brokerages Anticipate MacroGenics, Inc. (MGNX) Will Announce Earnings of -$1.03 Per Share

Wall Street brokerages forecast that MacroGenics, Inc. (NASDAQ:MGNX) will announce earnings per share (EPS) of ($1.03) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for MacroGenics’ earnings, with the lowest EPS estimate coming in at ($1.21) and the highest estimate coming in at ($0.77). MacroGenics reported earnings of ($0.97) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.2%. The business is scheduled to report its next quarterly earnings results on Wednesday, November 1st.

On average, analysts expect that MacroGenics will report full-year earnings of ($4.26) per share for the current fiscal year, with EPS estimates ranging from ($4.69) to ($3.77). For the next fiscal year, analysts anticipate that the business will post earnings of ($3.94) per share, with EPS estimates ranging from ($4.76) to ($3.18). Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for MacroGenics.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.05) by ($0.09). MacroGenics had a negative return on equity of 56.81% and a negative net margin of 1,216.51%. The firm had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $15.82 million. During the same period in the prior year, the business earned $1.12 earnings per share. The business’s quarterly revenue was down 97.9% compared to the same quarter last year.

Several research firms have recently weighed in on MGNX. Zacks Investment Research cut MacroGenics from a “hold” rating to a “sell” rating in a report on Wednesday. Stifel Nicolaus reissued a “buy” rating and set a $34.00 price target on shares of MacroGenics in a report on Tuesday, September 12th. Wedbush reissued an “outperform” rating and set a $44.00 price target on shares of MacroGenics in a report on Monday, September 11th. ValuEngine raised MacroGenics from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Finally, SunTrust Banks, Inc. reissued a “buy” rating and set a $26.00 price target on shares of MacroGenics in a report on Friday, September 1st. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. MacroGenics presently has a consensus rating of “Hold” and an average price target of $30.30.

Several large investors have recently bought and sold shares of MGNX. Wasatch Advisors Inc. increased its stake in shares of MacroGenics by 5,159.3% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,044,243 shares of the biopharmaceutical company’s stock worth $18,285,000 after purchasing an additional 1,024,388 shares in the last quarter. FMR LLC increased its stake in shares of MacroGenics by 6.0% in the 2nd quarter. FMR LLC now owns 5,238,917 shares of the biopharmaceutical company’s stock worth $91,733,000 after purchasing an additional 295,553 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of MacroGenics in the 1st quarter worth $4,514,000. MARSHALL WACE ASIA Ltd purchased a new stake in shares of MacroGenics in the 1st quarter worth $4,514,000. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of MacroGenics by 1,027.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 208,500 shares of the biopharmaceutical company’s stock worth $3,649,000 after purchasing an additional 190,000 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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MacroGenics (MGNX) traded down 0.45% during mid-day trading on Thursday, reaching $17.89. The company’s stock had a trading volume of 166,271 shares. The company has a 50-day moving average price of $17.50 and a 200-day moving average price of $18.20. The firm’s market cap is $658.32 million. MacroGenics has a 12-month low of $14.36 and a 12-month high of $31.85.

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.

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Earnings History and Estimates for MacroGenics (NASDAQ:MGNX)

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