MacroGenics, Inc. (MGNX) Expected to Announce Quarterly Sales of $152.60 Million

Wall Street analysts expect MacroGenics, Inc. (NASDAQ:MGNX) to announce $152.60 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for MacroGenics’ earnings, with the highest sales estimate coming in at $155.40 million and the lowest estimate coming in at $150.00 million. MacroGenics posted sales of $5.11 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2,886.3%. The business is expected to issue its next earnings results on Tuesday, February 27th.

On average, analysts expect that MacroGenics will report full year sales of $152.60 million for the current year, with estimates ranging from $155.40 million to $160.78 million. For the next fiscal year, analysts anticipate that the firm will report sales of $16.30 million per share, with estimates ranging from $6.70 million to $34.13 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover MacroGenics.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.09) by ($0.19). MacroGenics had a negative net margin of 1,526.55% and a negative return on equity of 69.31%. The company had revenue of $1.70 million for the quarter, compared to analyst estimates of $5.50 million. During the same quarter in the previous year, the firm earned ($0.97) EPS. The firm’s revenue was down 48.5% on a year-over-year basis.

Several research analysts have weighed in on the stock. ValuEngine upgraded shares of MacroGenics from a “strong sell” rating to a “sell” rating in a report on Friday. BidaskClub downgraded shares of MacroGenics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Morgan Stanley lowered their price objective on shares of MacroGenics from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, August 7th. Zacks Investment Research upgraded shares of MacroGenics from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, Citigroup upped their price objective on shares of MacroGenics from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $30.10.

In related news, SVP Jon Marc Wigginton sold 5,000 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the completion of the transaction, the senior vice president now owns 35,000 shares in the company, valued at $700,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. 8.30% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in MacroGenics by 3.4% during the first quarter. Vanguard Group Inc. now owns 1,352,864 shares of the biopharmaceutical company’s stock worth $25,163,000 after purchasing an additional 44,680 shares during the period. Geode Capital Management LLC boosted its position in MacroGenics by 4.4% during the first quarter. Geode Capital Management LLC now owns 260,670 shares of the biopharmaceutical company’s stock worth $4,847,000 after purchasing an additional 10,983 shares during the period. Dimensional Fund Advisors LP bought a new position in MacroGenics during the first quarter worth about $810,000. Renaissance Technologies LLC bought a new position in MacroGenics during the first quarter worth about $2,435,000. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of MacroGenics by 7.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 122,969 shares of the biopharmaceutical company’s stock valued at $2,288,000 after acquiring an additional 8,108 shares during the period. Institutional investors own 85.81% of the company’s stock.

MacroGenics (NASDAQ:MGNX) opened at $19.39 on Monday. MacroGenics has a 1-year low of $14.36 and a 1-year high of $28.48.

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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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Earnings History and Estimates for MacroGenics (NASDAQ:MGNX)

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