MacroGenics, Inc. (NASDAQ:MGNX) – Investment analysts at SunTrust Banks lifted their FY2017 earnings estimates for shares of MacroGenics in a research note issued to investors on Wednesday. SunTrust Banks analyst P. Lawson now anticipates that the biopharmaceutical company will earn ($0.43) per share for the year, up from their prior forecast of ($4.45). SunTrust Banks currently has a “Buy” rating and a $26.00 price target on the stock. SunTrust Banks also issued estimates for MacroGenics’ Q4 2017 earnings at $2.99 EPS, Q4 2018 earnings at ($1.18) EPS, FY2018 earnings at ($4.56) EPS, FY2019 earnings at ($5.01) EPS, FY2020 earnings at ($3.53) EPS and FY2021 earnings at ($2.56) EPS.
Several other equities research analysts also recently commented on MGNX. ValuEngine downgraded shares of MacroGenics from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Citigroup Inc. boosted their target price on shares of MacroGenics from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 10th. BidaskClub cut shares of MacroGenics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Morgan Stanley cut their price target on shares of MacroGenics from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, August 7th. Finally, Cowen and Company restated a “buy” rating on shares of MacroGenics in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.10.
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Shares of MacroGenics (NASDAQ MGNX) opened at $18.00 on Monday. MacroGenics has a 52-week low of $14.36 and a 52-week high of $31.85.
MacroGenics (NASDAQ:MGNX) last posted its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.19). The business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $5.50 million. MacroGenics had a negative return on equity of 69.31% and a negative net margin of 1,526.55%. The company’s revenue was down 48.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.97) earnings per share.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGNX. Russell Investments Group Ltd. purchased a new position in MacroGenics in the second quarter valued at about $133,000. Legal & General Group Plc boosted its stake in MacroGenics by 4.3% in the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock valued at $138,000 after acquiring an additional 328 shares during the last quarter. SG Americas Securities LLC boosted its stake in MacroGenics by 92.2% in the second quarter. SG Americas Securities LLC now owns 10,812 shares of the biopharmaceutical company’s stock valued at $189,000 after acquiring an additional 5,187 shares during the last quarter. Parametric Portfolio Associates LLC purchased a new stake in shares of MacroGenics during the 2nd quarter valued at approximately $203,000. Finally, Virtu KCG Holdings LLC purchased a new stake in shares of MacroGenics during the 2nd quarter valued at approximately $232,000. Hedge funds and other institutional investors own 84.72% of the company’s stock.
In other MacroGenics news, SVP Jon Marc Wigginton sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the transaction, the senior vice president now directly owns 40,000 shares in the company, valued at $800,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.30% of the stock is currently owned by insiders.
MacroGenics Company Profile
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.
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