MacroGenics Inc (NASDAQ:MGNX) – Equities researchers at Leerink Swann boosted their FY2019 earnings per share estimates for shares of MacroGenics in a research note issued to investors on Monday, November 12th, according to Zacks Investment Research. Leerink Swann analyst J. Chang now expects that the biopharmaceutical company will post earnings of ($2.08) per share for the year, up from their previous estimate of ($4.07).
MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.81) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.29) by $0.48. The business had revenue of $20.80 million during the quarter, compared to the consensus estimate of $6.18 million. MacroGenics had a negative net margin of 10.72% and a negative return on equity of 7.39%.
A number of other research firms also recently issued reports on MGNX. Zacks Investment Research downgraded shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. BTIG Research assumed coverage on shares of MacroGenics in a research report on Monday, September 10th. They issued a “buy” rating and a $30.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $34.00 price objective on shares of MacroGenics in a research report on Tuesday, October 30th. ValuEngine cut shares of MacroGenics from a “buy” rating to a “hold” rating in a research note on Thursday, September 6th. Finally, BidaskClub raised shares of MacroGenics from a “strong sell” rating to a “sell” rating in a research note on Friday, October 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $31.00.
NASDAQ MGNX traded down $0.19 on Thursday, reaching $16.41. 267,037 shares of the company’s stock traded hands, compared to its average volume of 215,521. The company has a market capitalization of $693.47 million, a PE ratio of -30.39 and a beta of 2.52. MacroGenics has a fifty-two week low of $15.45 and a fifty-two week high of $32.74.
Several hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in MacroGenics by 23.7% during the first quarter. JPMorgan Chase & Co. now owns 32,262 shares of the biopharmaceutical company’s stock worth $812,000 after purchasing an additional 6,178 shares during the period. Russell Investments Group Ltd. grew its stake in MacroGenics by 64.4% during the first quarter. Russell Investments Group Ltd. now owns 16,600 shares of the biopharmaceutical company’s stock worth $418,000 after purchasing an additional 6,500 shares during the period. UBS Group AG grew its stake in MacroGenics by 1,128.5% during the first quarter. UBS Group AG now owns 14,165 shares of the biopharmaceutical company’s stock worth $357,000 after purchasing an additional 13,012 shares during the period. Allianz Asset Management GmbH boosted its holdings in MacroGenics by 32.8% in the first quarter. Allianz Asset Management GmbH now owns 68,944 shares of the biopharmaceutical company’s stock worth $1,735,000 after acquiring an additional 17,010 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in MacroGenics in the second quarter worth approximately $316,000. 86.97% of the stock is owned by institutional investors and hedge funds.
MacroGenics Company Profile
MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, and 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.