Brokerages forecast that MacroGenics Inc (NASDAQ:MGNX) will report $6.18 million in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for MacroGenics’ earnings, with the highest sales estimate coming in at $20.00 million and the lowest estimate coming in at $1.45 million. MacroGenics reported sales of $1.66 million during the same quarter last year, which indicates a positive year-over-year growth rate of 272.3%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, November 14th.
According to Zacks, analysts expect that MacroGenics will report full year sales of $45.67 million for the current fiscal year, with estimates ranging from $17.34 million to $106.73 million. For the next fiscal year, analysts anticipate that the company will post sales of $48.26 million, with estimates ranging from $4.00 million to $105.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover MacroGenics.
MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.20) by $0.17. MacroGenics had a negative net margin of 19.20% and a negative return on equity of 13.01%. The firm had revenue of $18.83 million during the quarter, compared to analysts’ expectations of $4.41 million.
A number of brokerages have weighed in on MGNX. ValuEngine cut shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Thursday, September 6th. BidaskClub upgraded shares of MacroGenics from a “sell” rating to a “hold” rating in a research report on Saturday, August 11th. BTIG Research began coverage on shares of MacroGenics in a research report on Monday, September 10th. They set a “buy” rating and a $30.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $34.00 price objective on shares of MacroGenics in a research note on Wednesday, August 8th. Finally, Zacks Investment Research raised shares of MacroGenics from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Wednesday, July 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. MacroGenics currently has a consensus rating of “Buy” and a consensus price target of $30.50.
Shares of MGNX opened at $20.19 on Tuesday. MacroGenics has a 1-year low of $16.12 and a 1-year high of $32.74. The stock has a market cap of $905.57 million, a price-to-earnings ratio of -37.39 and a beta of 2.41.
A number of institutional investors have recently modified their holdings of MGNX. SG Americas Securities LLC purchased a new position in MacroGenics in the first quarter worth approximately $119,000. Swiss National Bank lifted its position in shares of MacroGenics by 8.6% during the 1st quarter. Swiss National Bank now owns 64,700 shares of the biopharmaceutical company’s stock worth $1,628,000 after buying an additional 5,100 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of MacroGenics by 23.7% during the 1st quarter. JPMorgan Chase & Co. now owns 32,262 shares of the biopharmaceutical company’s stock worth $812,000 after buying an additional 6,178 shares during the last quarter. Citigroup Inc. lifted its position in shares of MacroGenics by 61.4% during the 1st quarter. Citigroup Inc. now owns 13,564 shares of the biopharmaceutical company’s stock worth $341,000 after buying an additional 5,162 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of MacroGenics by 64.4% during the 1st quarter. Russell Investments Group Ltd. now owns 16,600 shares of the biopharmaceutical company’s stock worth $418,000 after buying an additional 6,500 shares during the last quarter. Institutional investors own 92.84% of the company’s stock.
MacroGenics Company Profile
MacroGenics, Inc, a biopharmaceutical company, focuses on the discovery and development of antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, as well as various autoimmune disorders and infectious diseases in the United States. The company's advanced clinical product candidate is Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets human epidermal growth factor receptor 2-expressing tumors, such as various breast and gastroesophageal cancers.
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