MacroGenics (MGNX) Scheduled to Post Quarterly Earnings on Thursday

MacroGenics (NASDAQ:MGNX) is set to release its earnings data after the market closes on Thursday, May 9th. Analysts expect MacroGenics to post earnings of ($0.67) per share for the quarter.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.49). The company had revenue of $10.72 million during the quarter, compared to analysts’ expectations of $25.70 million. MacroGenics had a negative return on equity of 88.49% and a negative net margin of 15.42%. During the same period in the prior year, the business posted $0.21 EPS. On average, analysts expect MacroGenics to post $-3 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

MacroGenics Price Performance

Shares of MGNX opened at $15.67 on Friday. The company’s fifty day moving average price is $16.46 and its 200-day moving average price is $12.33. MacroGenics has a 1-year low of $4.29 and a 1-year high of $21.88. The firm has a market capitalization of $980.32 million, a PE ratio of -97.94 and a beta of 2.09.

Insider Activity at MacroGenics

In other MacroGenics news, VP Jeffrey Stuart Peters sold 51,395 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $15.55, for a total value of $799,192.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 11.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

MGNX has been the topic of several research analyst reports. B. Riley started coverage on MacroGenics in a research note on Friday, April 26th. They set a “buy” rating and a $25.00 price target on the stock. Barclays raised their price target on shares of MacroGenics from $12.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. HC Wainwright cut shares of MacroGenics from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $12.00 to $14.00 in a research note on Wednesday, February 14th. BTIG Research increased their price objective on shares of MacroGenics from $12.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Finally, TD Cowen upgraded shares of MacroGenics from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.