MacroGenics, Inc. (NASDAQ:MGNX) – Equities researchers at Leerink Swann raised their FY2017 earnings per share estimates for MacroGenics in a report issued on Thursday. Leerink Swann analyst M. Schmidt now anticipates that the biopharmaceutical company will post earnings of ($0.77) per share for the year, up from their prior estimate of ($4.69). Leerink Swann also issued estimates for MacroGenics’ Q4 2017 earnings at $2.60 EPS and FY2018 earnings at ($5.69) EPS.
MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.09) by ($0.19). The firm had revenue of $1.70 million for the quarter, compared to analyst estimates of $5.50 million. MacroGenics had a negative return on equity of 69.31% and a negative net margin of 1,526.55%. The business’s revenue was down 48.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.97) earnings per share.
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Several other equities research analysts have also commented on the company. ValuEngine lowered MacroGenics from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Citigroup Inc. upped their price target on MacroGenics from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, November 10th. Cowen and Company restated a “buy” rating on shares of MacroGenics in a research note on Wednesday, October 25th. Zacks Investment Research upgraded MacroGenics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, Stifel Nicolaus restated a “buy” rating and set a $34.00 price target on shares of MacroGenics in a research note on Tuesday, September 12th. Two equities research 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 currently has a consensus rating of “Buy” and a consensus target price of $30.10.
Shares of MacroGenics (NASDAQ MGNX) opened at $18.00 on Monday. MacroGenics has a 12 month low of $14.36 and a 12 month high of $31.85.
A number of hedge funds and other institutional investors have recently modified their holdings of MGNX. Wasatch Advisors Inc. grew its stake in MacroGenics by 5,159.3% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,044,243 shares of the biopharmaceutical company’s stock valued at $18,285,000 after purchasing an additional 1,024,388 shares in the last quarter. FMR LLC grew its stake in MacroGenics by 6.0% during the 2nd quarter. FMR LLC now owns 5,238,917 shares of the biopharmaceutical company’s stock valued at $91,733,000 after purchasing an additional 295,553 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in MacroGenics by 38.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 843,175 shares of the biopharmaceutical company’s stock valued at $15,582,000 after purchasing an additional 233,657 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in MacroGenics by 1,027.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 208,500 shares of the biopharmaceutical company’s stock valued at $3,649,000 after purchasing an additional 190,000 shares in the last quarter. Finally, State Street Corp grew its stake in MacroGenics by 20.0% during the 1st quarter. State Street Corp now owns 1,007,211 shares of the biopharmaceutical company’s stock valued at $18,732,000 after purchasing an additional 167,720 shares in the last quarter. Hedge funds and other institutional investors own 84.72% of the company’s stock.
In other news, SVP Jon Marc Wigginton sold 10,000 shares of the stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the senior vice president now owns 40,000 shares in the company, valued at $800,000. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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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