Wall Street analysts predict that MacroGenics Inc (NASDAQ:MGNX) will report $7.46 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for MacroGenics’ earnings, with the highest sales estimate coming in at $16.55 million and the lowest estimate coming in at $1.85 million. MacroGenics reported sales of $2.06 million in the same quarter last year, which indicates a positive year-over-year growth rate of 262.1%. The business is expected to report its next quarterly earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that MacroGenics will report full-year sales of $7.46 million for the current fiscal year, with estimates ranging from $12.00 million to $84.15 million. For the next year, analysts forecast that the company will report sales of $46.64 million per share, with estimates ranging from $4.00 million to $105.90 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for MacroGenics.
A number of analysts recently issued reports on the company. Zacks Investment Research cut MacroGenics from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. ValuEngine upgraded MacroGenics from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. BidaskClub lowered MacroGenics from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 14th. Cowen restated a “buy” rating on shares of MacroGenics in a research note on Wednesday, January 24th. Finally, Morgan Stanley restated an “equal weight” rating and set a $26.00 price target (up from $18.00) on shares of MacroGenics in a research note on Wednesday, March 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. MacroGenics currently has a consensus rating of “Buy” and an average target price of $29.78.
Shares of MacroGenics stock traded down $0.24 during trading on Friday, hitting $29.45. The stock had a trading volume of 150,539 shares, compared to its average volume of 264,899. The firm has a market capitalization of $1,096.12, a PE ratio of -42.10 and a beta of 2.52. MacroGenics has a 1-year low of $14.36 and a 1-year high of $32.74.
In other MacroGenics news, VP Lynn Cilinski sold 23,967 shares of MacroGenics stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $25.01, for a total transaction of $599,414.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Eric Blasius Risser sold 3,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $22.50, for a total value of $67,500.00. Following the transaction, the senior vice president now directly owns 12,100 shares in the company, valued at approximately $272,250. The disclosure for this sale can be found here. Insiders have sold 42,967 shares of company stock worth $1,098,005 over the last ninety days. Company insiders own 8.30% of the company’s stock.
Several institutional investors have recently modified their holdings of MGNX. Parametric Portfolio Associates LLC bought a new position in shares of MacroGenics during the second quarter worth approximately $203,000. Dimensional Fund Advisors LP lifted its holdings in shares of MacroGenics by 314.8% during the second quarter. Dimensional Fund Advisors LP now owns 180,739 shares of the biopharmaceutical company’s stock worth $3,165,000 after purchasing an additional 137,167 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in MacroGenics by 2.9% in 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 during the period. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in MacroGenics by 19.3% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 31,210 shares of the biopharmaceutical company’s stock valued at $577,000 after buying an additional 5,050 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in MacroGenics by 9.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 228,500 shares of the biopharmaceutical company’s stock valued at $3,745,000 after buying an additional 20,000 shares during the period. Institutional investors own 91.13% of the company’s stock.
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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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