Brokerages predict that MacroGenics Inc (NASDAQ:MGNX) will post sales of $11.46 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for MacroGenics’ earnings. The highest sales estimate is $38.80 million and the lowest is $2.00 million. MacroGenics reported sales of $4.70 million in the same quarter last year, which would suggest a positive year over year growth rate of 143.8%. The business is expected to report its next quarterly earnings report on Monday, May 6th.
On average, analysts expect that MacroGenics will report full year sales of $59.87 million for the current year, with estimates ranging from $18.12 million to $155.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $58.15 million, with estimates ranging from $15.10 million to $140.18 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover MacroGenics.
A number of equities analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $39.00 target price on shares of MacroGenics in a report on Thursday, April 4th. ValuEngine downgraded MacroGenics from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Zacks Investment Research downgraded MacroGenics from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Nomura upped their target price on MacroGenics from $41.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 7th. Finally, SunTrust Banks upped their target price on MacroGenics to $40.00 and gave the company a “buy” rating in a report on Thursday, February 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. MacroGenics has a consensus rating of “Hold” and a consensus price target of $31.78.
In related news, SVP Thomas Spitznagel sold 1,770 shares of the business’s stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $30.00, for a total value of $53,100.00. Following the completion of the sale, the senior vice president now owns 1,770 shares of the company’s stock, valued at approximately $53,100. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Matthew K. Fust sold 6,924 shares of the business’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $29.38, for a total value of $203,427.12. Following the completion of the sale, the director now directly owns 7,424 shares of the company’s stock, valued at approximately $218,117.12. The disclosure for this sale can be found here. Insiders sold a total of 8,762 shares of company stock worth $258,567 in the last quarter. 8.82% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in MacroGenics by 3.3% during the third quarter. BlackRock Inc. now owns 3,225,256 shares of the biopharmaceutical company’s stock worth $69,150,000 after purchasing an additional 103,189 shares during the period. Dimensional Fund Advisors LP boosted its position in MacroGenics by 101.6% during the third quarter. Dimensional Fund Advisors LP now owns 582,511 shares of the biopharmaceutical company’s stock worth $12,489,000 after purchasing an additional 293,527 shares during the period. Allianz Asset Management GmbH boosted its position in MacroGenics by 9.2% during the third quarter. Allianz Asset Management GmbH now owns 104,511 shares of the biopharmaceutical company’s stock worth $2,241,000 after purchasing an additional 8,824 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in MacroGenics during the third quarter worth approximately $250,000. Finally, Man Group plc boosted its position in MacroGenics by 441.3% during the third quarter. Man Group plc now owns 66,122 shares of the biopharmaceutical company’s stock worth $1,417,000 after purchasing an additional 53,906 shares during the period. 75.39% 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 in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.
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