MacroGenics, Inc. (NASDAQ:MGNX) – SunTrust Banks reduced their FY2018 EPS estimates for MacroGenics in a research note issued on Sunday. SunTrust Banks analyst P. Lawson now forecasts that the biopharmaceutical company will post earnings per share of ($4.24) for the year, down from their prior estimate of ($4.16). SunTrust Banks currently has a “Buy” rating and a $26.00 price target on the stock.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.09). The company had revenue of $1.70 million during the quarter, compared to analyst estimates of $15.82 million. MacroGenics had a negative net margin of 1,216.51% and a negative return on equity of 56.81%. MacroGenics’s revenue for the quarter was down 97.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.12 EPS. ILLEGAL ACTIVITY WARNING: “MacroGenics, Inc. to Post FY2018 Earnings of ($4.24) Per Share, SunTrust Banks Forecasts (MGNX)” was originally published by Daily Political and is the sole property of of Daily Political. If you are reading this article on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The legal version of this article can be read at https://www.dailypolitical.com/2017/09/13/macrogenics-inc-to-post-fy2018-earnings-of-4-24-per-share-suntrust-banks-forecasts-mgnx.html.

Several other research firms have also recently commented on MGNX. ValuEngine upgraded MacroGenics from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $34.00 price target on shares of MacroGenics in a research note on Tuesday. Wedbush reiterated an “outperform” rating and issued a $44.00 price target on shares of MacroGenics in a research note on Monday. Zacks Investment Research upgraded MacroGenics from a “sell” rating to a “hold” rating and set a $19.00 price target on the stock in a research note on Tuesday, July 18th. Finally, BidaskClub upgraded MacroGenics from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. MacroGenics presently has an average rating of “Hold” and an average target price of $30.30.

MacroGenics (NASDAQ:MGNX) traded down 1.34% during midday trading on Wednesday, reaching $16.93. The company’s stock had a trading volume of 115,369 shares. The company’s market capitalization is $622.99 million. The company has a 50 day moving average of $17.05 and a 200-day moving average of $18.44. MacroGenics has a 1-year low of $14.36 and a 1-year high of $32.68.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc raised its stake in MacroGenics by 4.3% during 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 in the last quarter. Ameriprise Financial Inc. raised its stake in MacroGenics by 1.0% during the first quarter. Ameriprise Financial Inc. now owns 49,059 shares of the biopharmaceutical company’s stock valued at $912,000 after buying an additional 485 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in MacroGenics by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 26,485 shares of the biopharmaceutical company’s stock valued at $463,000 after buying an additional 743 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in MacroGenics by 3.8% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 23,238 shares of the biopharmaceutical company’s stock valued at $406,000 after buying an additional 848 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in MacroGenics by 0.6% during the second quarter. Jennison Associates LLC now owns 189,970 shares of the biopharmaceutical company’s stock valued at $3,326,000 after buying an additional 1,062 shares in the last quarter. Hedge funds and other institutional investors own 84.47% 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.

Earnings History and Estimates for MacroGenics (NASDAQ:MGNX)

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