Brokerages Expect Magenta Therapeutics, Inc. (NASDAQ:MGTA) Will Post Earnings of -$0.34 Per Share

Wall Street brokerages predict that Magenta Therapeutics, Inc. (NASDAQ:MGTAGet Rating) will post earnings of ($0.34) per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Magenta Therapeutics’ earnings, with estimates ranging from ($0.37) to ($0.29). Magenta Therapeutics reported earnings of ($0.36) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 5.6%. The firm is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Magenta Therapeutics will report full year earnings of ($1.43) per share for the current fiscal year, with EPS estimates ranging from ($1.55) to ($1.30). For the next fiscal year, analysts expect that the firm will post earnings of ($1.45) per share, with EPS estimates ranging from ($1.65) to ($1.18). Zacks’ EPS averages are a mean average based on a survey of research firms that cover Magenta Therapeutics.

Magenta Therapeutics (NASDAQ:MGTAGet Rating) last announced its quarterly earnings results on Tuesday, March 8th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.01).

MGTA has been the topic of a number of recent analyst reports. B. Riley decreased their price target on Magenta Therapeutics from $13.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, January 24th. BTIG Research decreased their price target on Magenta Therapeutics from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, April 18th. Mizuho decreased their price target on Magenta Therapeutics from $17.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, April 18th. Finally, Zacks Investment Research upgraded Magenta Therapeutics from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a research report on Wednesday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $8.04.

Shares of NASDAQ MGTA traded up $0.17 during mid-day trading on Friday, reaching $1.14. The company had a trading volume of 276,185 shares, compared to its average volume of 300,057. Magenta Therapeutics has a one year low of $0.92 and a one year high of $12.98. The firm has a market cap of $67.03 million, a price-to-earnings ratio of -0.87 and a beta of 2.24. The business’s 50-day simple moving average is $2.35 and its 200 day simple moving average is $3.93.

A number of institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its position in Magenta Therapeutics by 406.1% in the first quarter. Renaissance Technologies LLC now owns 239,265 shares of the company’s stock valued at $694,000 after buying an additional 191,986 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Magenta Therapeutics by 53.1% during the first quarter. Federated Hermes Inc. now owns 387,398 shares of the company’s stock worth $1,123,000 after purchasing an additional 134,283 shares during the period. Integral Health Asset Management LLC lifted its holdings in shares of Magenta Therapeutics by 123.3% during the first quarter. Integral Health Asset Management LLC now owns 201,000 shares of the company’s stock worth $583,000 after purchasing an additional 111,000 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Magenta Therapeutics by 190.4% during the first quarter. Acadian Asset Management LLC now owns 19,272 shares of the company’s stock worth $55,000 after purchasing an additional 12,635 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Magenta Therapeutics by 19.1% during the first quarter. JPMorgan Chase & Co. now owns 443,912 shares of the company’s stock worth $1,287,000 after purchasing an additional 71,249 shares during the period. Hedge funds and other institutional investors own 69.63% of the company’s stock.

About Magenta Therapeutics (Get Rating)

Magenta Therapeutics, Inc, a clinical-stage biotechnology company, develops medicines to bring the curative power of stem cell transplants to patients with blood cancers, genetic diseases, and autoimmune diseases. It develops MGTA-117, an anti-CD117 antibody that targets hematopoietic stem cells (HSCs) and genetically mutated stem cells that cause acute myeloid leukemia and myelodysplastic syndromes, which is under Phase I/II clinical trial; CD45-antibody drug conjugate that targets HSCs and immune cells, which is in investigational new drug application enabling studies for potential use as a single-agent in autoimmune diseases and hematology-oncology transplants; and MGTA-145 that is in Phase II clinical trial for use in autologous and allogeneic transplants.

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Earnings History and Estimates for Magenta Therapeutics (NASDAQ:MGTA)

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