Brokerages expect MacroGenics, Inc. (NASDAQ:MGNX) to post sales of $5.61 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for MacroGenics’ earnings. The lowest sales estimate is $1.25 million and the highest is $12.00 million. MacroGenics posted sales of $3.26 million in the same quarter last year, which suggests a positive year over year growth rate of 72.1%. The firm is expected to issue its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that MacroGenics will report full year sales of $5.61 million for the current fiscal year, with estimates ranging from $3.70 million to $27.72 million. For the next year, analysts anticipate that the company will report sales of $35.05 million per share, with estimates ranging from $5.00 million to $88.05 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow MacroGenics.
MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data 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. The company had revenue of $1.70 million for the quarter, compared to the consensus estimate of $15.82 million. MacroGenics had a negative return on equity of 56.81% and a negative net margin of 1,216.51%. MacroGenics’s revenue for the quarter was down 97.9% compared to the same quarter last year. During the same period last year, the company earned $1.12 EPS.
MGNX has been the topic of a number of analyst reports. Morgan Stanley decreased their price objective on shares of MacroGenics from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, May 8th. Zacks Investment Research upgraded shares of MacroGenics from a “sell” rating to a “hold” rating and set a $19.00 price target on the stock in a research report on Tuesday, July 18th. BidaskClub cut shares of MacroGenics from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Cowen and Company reiterated a “buy” rating on shares of MacroGenics in a research report on Friday, August 4th. Finally, ValuEngine cut shares of MacroGenics from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. 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 company presently has a consensus rating of “Hold” and a consensus target price of $32.30.
MacroGenics (NASDAQ:MGNX) opened at 16.24 on Friday. MacroGenics has a 52-week low of $14.36 and a 52-week high of $33.30. The stock’s 50 day moving average is $17.36 and its 200-day moving average is $18.72. The company’s market cap is $597.60 million.
In related news, SVP Jon Marc Wigginton sold 5,000 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the sale, the senior vice president now owns 35,000 shares of the company’s stock, valued at $700,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.30% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new stake in MacroGenics during the fourth quarter valued at approximately $186,000. Teachers Advisors LLC raised its stake in MacroGenics by 1.0% in the fourth quarter. Teachers Advisors LLC now owns 246,173 shares of the biopharmaceutical company’s stock valued at $5,032,000 after buying an additional 2,541 shares during the last quarter. Macquarie Group Ltd. raised its stake in MacroGenics by 25.0% in the fourth quarter. Macquarie Group Ltd. now owns 50,000 shares of the biopharmaceutical company’s stock valued at $1,022,000 after buying an additional 10,000 shares during the last quarter. Wells Fargo & Company MN raised its stake in MacroGenics by 100.8% in the first quarter. Wells Fargo & Company MN now owns 48,200 shares of the biopharmaceutical company’s stock valued at $896,000 after buying an additional 24,198 shares during the last quarter. Finally, Tocqueville Asset Management L.P. acquired a new stake in MacroGenics during the first quarter valued at approximately $1,395,000. 82.34% of the stock is currently owned by institutional investors and hedge funds.
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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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