MacroGenics (NASDAQ:MGNX) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

MacroGenics (NASDAQ:MGNX) released its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.02), MarketWatch Earnings reports. MacroGenics had a negative return on equity of 73.93% and a negative net margin of 214.06%. The business had revenue of $20.26 million during the quarter, compared to the consensus estimate of $14.19 million.

Shares of MGNX stock traded down $1.35 during trading hours on Friday, reaching $25.40. 974,829 shares of the company traded hands, compared to its average volume of 465,294. MacroGenics has a 12-month low of $4.04 and a 12-month high of $32.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.93 and a quick ratio of 4.93. The company has a market cap of $1.25 billion, a P/E ratio of -7.51 and a beta of 2.84. The firm has a 50-day moving average price of $27.23 and a 200 day moving average price of $15.58.

In other news, SVP Eric Blasius Risser sold 8,032 shares of MacroGenics stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $20.95, for a total transaction of $168,270.40. Following the transaction, the senior vice president now directly owns 44,968 shares of the company’s stock, valued at approximately $942,079.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Thomas Spitznagel sold 7,500 shares of MacroGenics stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $25.30, for a total value of $189,750.00. Following the transaction, the senior vice president now directly owns 7,500 shares in the company, valued at $189,750. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,621 shares of company stock worth $579,600. Insiders own 9.00% of the company’s stock.

MGNX has been the subject of several research analyst reports. BidaskClub downgraded MacroGenics from a “buy” rating to a “hold” rating in a report on Friday, July 17th. SVB Leerink lifted their price objective on MacroGenics from $15.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Morgan Stanley boosted their price target on MacroGenics from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Friday. Credit Suisse Group boosted their price target on MacroGenics from $13.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, Stifel Nicolaus boosted their price target on MacroGenics from $21.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, May 29th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $29.77.

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.

See Also: Cash Flow

Earnings History for MacroGenics (NASDAQ:MGNX)

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