MacroGenics (MGNX) Getting Somewhat Favorable Media Coverage, Report Shows
News stories about MacroGenics (NASDAQ:MGNX) have trended somewhat positive this week, according to Accern Sentiment Analysis. Accern scores the sentiment of press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. MacroGenics earned a media sentiment score of 0.04 on Accern’s scale. Accern also gave media headlines about the biopharmaceutical company an impact score of 47.3475572634543 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s scoring:
- MacroGenics, Inc. (NASDAQ:MGNX) Price Target Cut to $21.00 by Analysts at Morgan Stanley (americanbankingnews.com)
- Wedbush Analysts Lower Earnings Estimates for MacroGenics, Inc. (MGNX) (americanbankingnews.com)
- MacroGenics, Inc. (NASDAQ:MGNX) Forecasted to Post Q3 2017 Earnings of ($1.12) Per Share (americanbankingnews.com)
- MacroGenics, Inc. (NASDAQ:MGNX) to Post FY2017 Earnings of ($4.69) Per Share, Leerink Swann Forecasts (americanbankingnews.com)
- SunTrust Banks Comments on MacroGenics, Inc.’s FY2021 Earnings (MGNX) (americanbankingnews.com)
Shares of MacroGenics (NASDAQ:MGNX) traded down 1.50% during mid-day trading on Monday, reaching $17.02. 249,670 shares of the company were exchanged. MacroGenics has a 12 month low of $15.70 and a 12 month high of $33.30. The stock has a 50 day moving average price of $17.76 and a 200-day moving average price of $18.87. The stock’s market capitalization is $626.30 million.
MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by $0.09. MacroGenics had a negative net margin of 1,216.51% and a negative return on equity of 56.81%. The firm had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $15.82 million. During the same quarter last year, the business earned $1.12 earnings per share. The business’s quarterly revenue was down 97.9% on a year-over-year basis. Analysts predict that MacroGenics will post ($4.21) earnings per share for the current year.
MGNX has been the topic of several recent research reports. Morgan Stanley dropped their price objective on shares of MacroGenics from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, May 8th. Zacks Investment Research raised shares of MacroGenics from a “sell” rating to a “hold” rating and set a $19.00 price objective on the stock in a report on Tuesday, July 18th. BidaskClub downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Monday, July 31st. ValuEngine downgraded shares of MacroGenics from a “sell” rating to a “strong sell” rating in a report on Thursday. Finally, Cowen and Company reaffirmed a “buy” rating on shares of MacroGenics in a report on Friday. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $32.30.
In related news, SVP Jon Marc Wigginton sold 5,000 shares of MacroGenics stock in a transaction on Monday, June 5th. The shares were sold at an average price of $20.00, for a total value of $100,000.00. Following the transaction, the senior vice president now directly owns 35,000 shares in the company, valued at approximately $700,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.30% of the company’s stock.
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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