MacroGenics, Inc. Forecasted to Post FY2017 Earnings of ($4.69) Per Share (NASDAQ:MGNX)
MacroGenics, Inc. (NASDAQ:MGNX) – Investment analysts at Leerink Swann boosted their FY2017 earnings per share estimates for shares of MacroGenics in a report released on Wednesday. Leerink Swann analyst M. Schmidt now expects that the biopharmaceutical company will post earnings per share of ($4.69) for the year, up from their prior estimate of ($4.71). Leerink Swann also issued estimates for MacroGenics’ Q4 2017 earnings at ($1.23) EPS and FY2018 earnings at ($4.76) EPS.
Several other equities research analysts also recently issued reports on MGNX. Morgan Stanley cut their price target on MacroGenics from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, May 8th. Zacks Investment Research raised MacroGenics from a “sell” rating to a “hold” rating and set a $19.00 price target for the company in a report on Tuesday, July 18th. BidaskClub downgraded MacroGenics from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Cowen and Company reaffirmed a “buy” rating on shares of MacroGenics in a report on Friday, August 4th. Finally, ValuEngine downgraded MacroGenics from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. MacroGenics presently has an average rating of “Hold” and an average price target of $32.30.
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MacroGenics (MGNX) traded down 2.299% during trading on Monday, hitting $16.365. 58,251 shares of the stock were exchanged. The stock’s market cap is $602.20 million. MacroGenics has a 1-year low of $14.36 and a 1-year high of $33.30. The firm’s 50 day moving average price is $17.63 and its 200-day moving average price is $18.82.
MacroGenics (NASDAQ:MGNX) last released its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the Zacks’ consensus estimate 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 the consensus estimate of $15.82 million. During the same period in the prior year, the business earned $1.12 EPS. The company’s revenue for the quarter was down 97.9% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently modified their holdings of MGNX. Russell Investments Group Ltd. bought a new position in shares of MacroGenics during the second quarter worth approximately $133,000. Legal & General Group Plc raised its stake in MacroGenics by 4.3% in the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock valued at $138,000 after buying an additional 328 shares during the period. SG Americas Securities LLC raised its stake in MacroGenics by 92.2% in the second quarter. SG Americas Securities LLC now owns 10,812 shares of the biopharmaceutical company’s stock valued at $189,000 after buying an additional 5,187 shares during the period. American International Group Inc. raised its stake in MacroGenics by 7.1% in the first quarter. American International Group Inc. now owns 19,632 shares of the biopharmaceutical company’s stock valued at $365,000 after buying an additional 1,300 shares during the period. Finally, Stifel Financial Corp raised its stake in MacroGenics by 7.8% in the first quarter. Stifel Financial Corp now owns 20,155 shares of the biopharmaceutical company’s stock valued at $370,000 after buying an additional 1,450 shares during the period. Institutional investors own 82.34% of the company’s stock.
In related news, SVP Jon Marc Wigginton sold 5,000 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the transaction, the senior vice president now owns 35,000 shares in the company, valued at $700,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.30% of the stock is currently owned by company insiders.
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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