FY2020 EPS Estimates for MacroGenics Inc (NASDAQ:MGNX) Cut by Analyst

MacroGenics Inc (NASDAQ:MGNX) – Stock analysts at Wedbush dropped their FY2020 EPS estimates for MacroGenics in a research report issued on Wednesday, June 5th, Zacks Investment Research reports. Wedbush analyst D. Nierengarten now forecasts that the biopharmaceutical company will post earnings per share of ($4.27) for the year, down from their previous estimate of ($4.17). Wedbush currently has a “Outperform” rating and a $27.00 price target on the stock. Wedbush also issued estimates for MacroGenics’ FY2021 earnings at ($3.78) EPS, FY2022 earnings at ($2.33) EPS and FY2023 earnings at $0.40 EPS.

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 analysts’ expectations of $11.46 million. MacroGenics had a negative return on equity of 57.65% and a negative net margin of 256.47%.

Several other brokerages have also recently weighed in on MGNX. ValuEngine raised shares of MacroGenics from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. HC Wainwright reissued a “buy” rating and set a $39.00 target price on shares of MacroGenics in a report on Thursday, May 2nd. Cowen restated a “buy” rating on shares of MacroGenics in a research report on Thursday, May 2nd. Stifel Nicolaus reduced their price target on MacroGenics from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Finally, Morgan Stanley set a $19.00 price objective on MacroGenics and gave the stock a “hold” rating in a research note on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $31.62.

NASDAQ:MGNX traded up $0.32 during trading hours on Friday, hitting $17.29. 340,610 shares of the company traded hands, compared to its average volume of 1,151,846. The stock’s 50-day moving average price is $16.91. 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 6.47 and a quick ratio of 6.47. The company has a market capitalization of $828.31 million, a PE ratio of -4.13 and a beta of 2.38.

Institutional investors and hedge funds have recently modified their holdings of the stock. 683 Capital Management LLC raised its stake in MacroGenics by 14.7% during the fourth quarter. 683 Capital Management LLC now owns 384,970 shares of the biopharmaceutical company’s stock worth $4,889,000 after purchasing an additional 49,336 shares during the period. Vanguard Group Inc. grew its holdings in MacroGenics by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,270,541 shares of the biopharmaceutical company’s stock valued at $48,680,000 after purchasing an additional 165,937 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in MacroGenics by 1,253.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 193,600 shares of the biopharmaceutical company’s stock worth $4,327,000 after acquiring an additional 179,300 shares in the last quarter. Morgan Stanley grew its holdings in MacroGenics by 6.3% during the 3rd quarter. Morgan Stanley now owns 114,926 shares of the biopharmaceutical company’s stock worth $2,464,000 after acquiring an additional 6,842 shares in the last quarter. Finally, BB Biotech AG grew its holdings in MacroGenics by 9.8% during the 4th quarter. BB Biotech AG now owns 3,283,272 shares of the biopharmaceutical company’s stock worth $41,698,000 after acquiring an additional 292,860 shares in the last quarter. 90.52% of the stock is owned by institutional investors.

In other news, SVP Eric Blasius Risser sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was 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 owns 33,806 shares in the company, valued at approximately $621,354.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.88% of the stock is currently owned by company insiders.

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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