Analysts Expect MacroGenics Inc (MGNX) Will Post Quarterly Sales of $16.29 Million

Equities analysts expect MacroGenics Inc (NASDAQ:MGNX) to post $16.29 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for MacroGenics’ earnings. The highest sales estimate is $41.70 million and the lowest is $5.10 million. MacroGenics reported sales of $18.83 million during the same quarter last year, which indicates a negative year over year growth rate of 13.5%. The firm is expected to report its next earnings report on Tuesday, August 6th.

On average, analysts expect that MacroGenics will report full-year sales of $64.51 million for the current financial year, with estimates ranging from $27.12 million to $134.70 million. For the next year, analysts anticipate that the company will post sales of $64.93 million, with estimates ranging from $15.10 million to $140.16 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow MacroGenics.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.04). The firm had revenue of $9.66 million during the quarter, compared to analyst estimates of $11.46 million. MacroGenics had a negative net margin of 256.47% and a negative return on equity of 57.65%.

Several equities analysts have weighed in on MGNX shares. HC Wainwright reaffirmed a “buy” rating and issued a $39.00 target price (up from $34.00) on shares of MacroGenics in a research report on Wednesday, February 6th. Nomura boosted their price objective on MacroGenics from $41.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 7th. SunTrust Banks boosted their price objective on MacroGenics to $40.00 and gave the stock a “buy” rating in a research report on Thursday, February 7th. Citigroup raised MacroGenics from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $39.00 in a research report on Thursday, February 7th. Finally, Cowen reissued a “buy” rating on shares of MacroGenics in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. MacroGenics has a consensus rating of “Buy” and an average target price of $32.07.

NASDAQ MGNX traded down $0.01 during trading on Friday, hitting $17.42. The stock had a trading volume of 514,383 shares, compared to its average volume of 670,057. The company has a market cap of $850.68 million, a P/E ratio of -4.16 and a beta of 2.90. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.47 and a quick ratio of 6.47. MacroGenics has a twelve month low of $9.87 and a twelve month high of $32.32.

A number of hedge funds have recently bought and sold shares of MGNX. BlackRock Inc. lifted its stake 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 last quarter. Dimensional Fund Advisors LP lifted its stake 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 last quarter. Man Group plc lifted its stake 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 last quarter. MetLife Investment Advisors LLC lifted its stake in MacroGenics by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 28,953 shares of the biopharmaceutical company’s stock worth $621,000 after purchasing an additional 10,292 shares during the last quarter. Finally, Teachers Advisors LLC lifted its stake in MacroGenics by 14.5% during the third quarter. Teachers Advisors LLC now owns 78,989 shares of the biopharmaceutical company’s stock worth $1,694,000 after purchasing an additional 9,991 shares during the last quarter. Hedge funds and other institutional investors own 76.19% of the company’s stock.

About MacroGenics

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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Earnings History and Estimates for MacroGenics (NASDAQ:MGNX)

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