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.
WARNING: “Brokerages Anticipate MacroGenics, Inc. (MGNX) Will Announce Earnings of -$1.03 Per Share” was originally published by Equities Focus and is the property of of Equities Focus. If you are viewing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this story can be accessed at https://www.equitiesfocus.com/2017/10/05/brokerages-anticipate-macrogenics-inc-mgnx-will-announce-earnings-of-1-03-per-share.html.
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.
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
Receive News & Ratings for MacroGenics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MacroGenics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.