Analysts Expect MacroGenics, Inc. (NASDAQ:MGNX) Will Announce Quarterly Sales of $17.20 Million

Wall Street analysts expect that MacroGenics, Inc. (NASDAQ:MGNXGet Rating) will report $17.20 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for MacroGenics’ earnings, with estimates ranging from $17.10 million to $17.30 million. MacroGenics posted sales of $16.88 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.9%. The company is scheduled to announce its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that MacroGenics will report full-year sales of $118.75 million for the current year, with estimates ranging from $109.80 million to $127.69 million. For the next year, analysts forecast that the business will post sales of $121.84 million, with estimates ranging from $90.70 million to $152.98 million. Zacks’ sales calculations are an average based on a survey of analysts that cover MacroGenics.

MacroGenics (NASDAQ:MGNXGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The biopharmaceutical company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.12). The business had revenue of $14.15 million during the quarter, compared to the consensus estimate of $19.83 million. MacroGenics had a negative return on equity of 67.34% and a negative net margin of 260.97%. During the same quarter last year, the company earned $0.02 earnings per share.

MGNX has been the subject of several recent research reports. Zacks Investment Research downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a research note on Wednesday. SVB Leerink reduced their price objective on shares of MacroGenics from $40.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, February 25th. Sumitomo Mitsui Financial Group started coverage on shares of MacroGenics in a research note on Friday, February 4th. They set an “outperform” rating and a $40.00 price objective for the company. Barclays reduced their price objective on shares of MacroGenics from $35.00 to $18.00 in a research note on Friday, February 25th. Finally, StockNews.com started coverage on shares of MacroGenics in a research note on Thursday, March 31st. They set a “sell” rating for the company. Two research analysts have rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $29.90.

Shares of NASDAQ:MGNX traded down $0.25 during mid-day trading on Friday, reaching $7.15. 416,313 shares of the stock were exchanged, compared to its average volume of 463,902. The company has a market cap of $438.51 million, a P/E ratio of -2.12 and a beta of 2.14. The stock’s 50 day simple moving average is $8.76 and its 200-day simple moving average is $13.71. MacroGenics has a one year low of $6.92 and a one year high of $35.37.

Institutional investors have recently made changes to their positions in the business. Marshall Wace LLP bought a new stake in shares of MacroGenics in the 1st quarter worth approximately $80,000. Marshall Wace North America L.P. bought a new stake in shares of MacroGenics in the 1st quarter worth approximately $59,000. Royal Bank of Canada lifted its holdings in shares of MacroGenics by 11.3% in the 2nd quarter. Royal Bank of Canada now owns 6,639 shares of the biopharmaceutical company’s stock worth $178,000 after acquiring an additional 676 shares during the last quarter. Morgan Stanley lifted its holdings in shares of MacroGenics by 908.2% in the 2nd quarter. Morgan Stanley now owns 207,082 shares of the biopharmaceutical company’s stock worth $5,562,000 after acquiring an additional 186,543 shares during the last quarter. Finally, Strs Ohio lifted its holdings in shares of MacroGenics by 6.8% in the 3rd quarter. Strs Ohio now owns 15,800 shares of the biopharmaceutical company’s stock worth $330,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 96.16% of the company’s stock.

About MacroGenics (Get Rating)

MacroGenics, Inc, a biopharmaceutical company, develops 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.

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Earnings History and Estimates for MacroGenics (NASDAQ:MGNX)

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