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

Wall Street analysts forecast that MacroGenics Inc (NASDAQ:MGNX) will post sales of $27.78 million for the current quarter, Zacks reports. Five analysts have made 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 in the same quarter last year, which would suggest a positive year over year growth rate of 33.6%. The firm is expected to issue its next earnings report on Wednesday, November 6th.

On average, analysts expect that MacroGenics will report full-year sales of $75.87 million for the current year, with estimates ranging from $27.12 million to $146.10 million. For the next financial year, analysts forecast that the firm will report sales of $68.36 million, with estimates ranging from $15.10 million to $135.00 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that follow MacroGenics.

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

MGNX has been the topic of several recent research reports. Guggenheim initiated coverage on MacroGenics in a report on Friday, April 12th. They set a “neutral” rating on the stock. HC Wainwright reaffirmed a “buy” rating and set a $39.00 target price on shares of MacroGenics in a report on Thursday, May 2nd. BidaskClub downgraded MacroGenics from a “sell” rating to a “strong sell” rating in a report on Friday, July 19th. Stifel Nicolaus cut their target price on MacroGenics from $29.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Credit Suisse Group initiated coverage on MacroGenics in a report on Wednesday, April 17th. They set an “outperform” rating and a $29.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $30.89.

In other news, SVP Eric Blasius Risser sold 3,000 shares of MacroGenics stock in a transaction dated 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 directly owns 33,806 shares of the company’s stock, valued at approximately $621,354.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.88% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Legal & General Group Plc increased its position in MacroGenics by 20.4% in the 4th quarter. Legal & General Group Plc now owns 7,432 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 1,261 shares in the last quarter. Northern Trust Corp increased its position in MacroGenics by 0.3% in the 4th quarter. Northern Trust Corp now owns 524,500 shares of the biopharmaceutical company’s stock valued at $6,661,000 after buying an additional 1,644 shares in the last quarter. Stifel Financial Corp increased its position in MacroGenics by 14.8% in the 4th quarter. Stifel Financial Corp now owns 18,034 shares of the biopharmaceutical company’s stock valued at $229,000 after buying an additional 2,327 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in MacroGenics in the 1st quarter valued at about $59,000. Finally, State Board of Administration of Florida Retirement System increased its position in MacroGenics by 16.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 24,020 shares of the biopharmaceutical company’s stock valued at $408,000 after buying an additional 3,380 shares in the last quarter. 90.13% of the stock is owned by hedge funds and other institutional investors.

MGNX traded down $0.23 during midday trading on Friday, hitting $14.33. 223,261 shares of the company were exchanged, compared to its average volume of 1,021,447. The firm has a market capitalization of $711.84 million, a price-to-earnings ratio of -3.42 and a beta of 2.36. MacroGenics has a 1-year low of $9.87 and a 1-year high of $32.32. The business has a 50 day moving average price of $15.39. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.81 and a quick ratio of 5.81.

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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