MacroGenics Inc (NASDAQ:MGNX) Expected to Announce Quarterly Sales of $27.78 Million

Brokerages predict that MacroGenics Inc (NASDAQ:MGNX) will announce sales of $27.78 million for the current quarter, Zacks reports. Five analysts have provided estimates for MacroGenics’ earnings, with the lowest sales estimate coming in at $6.20 million and the highest estimate coming in at $70.40 million. MacroGenics reported sales of $20.80 million during the same quarter last year, which indicates a positive year over year growth rate of 33.6%. The firm is expected to issue its next earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that MacroGenics will report full year sales of $75.87 million for the current financial year, with estimates ranging from $27.12 million to $146.10 million. For the next year, analysts forecast that the firm will post sales of $68.36 million, with estimates ranging from $15.10 million to $135.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for MacroGenics.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.96) by $0.31. MacroGenics had a negative net margin of 273.47% and a negative return on equity of 54.52%. The business had revenue of $10.59 million for the quarter, compared to the consensus estimate of $17.58 million.

Several equities research analysts have recently issued reports on the stock. Guggenheim assumed coverage on shares of MacroGenics in a research report on Friday, April 12th. They issued a “neutral” rating for the company. BidaskClub lowered shares of MacroGenics from a “sell” rating to a “strong sell” rating in a research report on Friday, July 19th. Stifel Nicolaus dropped their price objective on shares of MacroGenics from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. HC Wainwright reissued a “buy” rating and issued a $39.00 price objective on shares of MacroGenics in a research report on Thursday, May 2nd. Finally, ValuEngine lowered shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $30.89.

In other news, SVP Eric Blasius Risser sold 3,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $18.38, for a total value of $55,140.00. Following the completion of the transaction, the senior vice president now directly owns 33,806 shares in the company, valued at $621,354.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.88% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale boosted its stake in shares of MacroGenics by 1,253.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 193,600 shares of the biopharmaceutical company’s stock valued at $4,327,000 after purchasing an additional 179,300 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of MacroGenics by 38.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 808,201 shares of the biopharmaceutical company’s stock valued at $10,264,000 after purchasing an additional 225,690 shares during the period. Acadian Asset Management LLC boosted its stake in shares of MacroGenics by 2,597.8% in the first quarter. Acadian Asset Management LLC now owns 137,047 shares of the biopharmaceutical company’s stock valued at $2,463,000 after purchasing an additional 131,967 shares during the period. Millennium Management LLC boosted its stake in MacroGenics by 13.5% during the 4th quarter. Millennium Management LLC now owns 257,680 shares of the biopharmaceutical company’s stock valued at $3,273,000 after acquiring an additional 30,622 shares during the last quarter. Finally, Wasatch Advisors Inc. boosted its stake in MacroGenics by 23.6% during the 1st quarter. Wasatch Advisors Inc. now owns 1,291,513 shares of the biopharmaceutical company’s stock valued at $23,221,000 after acquiring an additional 246,536 shares during the last quarter. Institutional investors and hedge funds own 90.13% of the company’s stock.

MGNX stock traded up $0.11 on Friday, hitting $14.17. 252,041 shares of the company were exchanged, compared to its average volume of 1,030,080. MacroGenics has a twelve month low of $9.87 and a twelve month high of $32.32. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.81 and a quick ratio of 5.81. The company has a fifty day simple moving average of $15.52. The firm has a market cap of $693.75 million, a PE ratio of -3.38 and a beta of 2.36.

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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