MacroGenics, Inc. (NASDAQ:MGNX) – Equities research analysts at Wedbush lowered their Q3 2017 earnings per share (EPS) estimates for shares of MacroGenics in a research note issued to investors on Thursday. Wedbush analyst D. Nierengarten now expects that the biopharmaceutical company will earn ($0.86) per share for the quarter, down from their previous forecast of ($0.85). Wedbush also issued estimates for MacroGenics’ FY2017 earnings at ($3.96) EPS, Q1 2018 earnings at ($0.97) EPS, Q2 2018 earnings at ($0.88) EPS, Q3 2018 earnings at ($0.91) EPS, Q4 2018 earnings at ($0.93) EPS, FY2018 earnings at ($3.68) EPS, FY2019 earnings at ($4.27) EPS, FY2020 earnings at ($3.24) EPS and FY2021 earnings at $3.28 EPS.
A number of other equities research analysts have also commented on the stock. Morgan Stanley dropped their price objective on shares of MacroGenics from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday. Cowen and Company restated a “buy” rating on shares of MacroGenics in a report on Friday, August 4th. Zacks Investment Research lowered shares of MacroGenics from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. ValuEngine lowered shares of MacroGenics from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Finally, BidaskClub lowered shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Three investment 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 “Hold” and a consensus price target of $32.30.
MacroGenics (NASDAQ MGNX) opened at 16.75 on Monday. The stock’s market capitalization is $616.37 million. The stock’s 50 day moving average is $17.63 and its 200 day moving average is $18.82. MacroGenics has a 12-month low of $14.36 and a 12-month high of $33.30.
MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.05) by $0.09. MacroGenics had a negative net margin of 1,216.51% and a negative return on equity of 56.81%. The company had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $15.82 million. During the same quarter in the prior year, the firm earned $1.12 earnings per share. The company’s revenue was down 97.9% on a year-over-year basis.
In related news, SVP Jon Marc Wigginton sold 5,000 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the transaction, the senior vice president now owns 35,000 shares of the company’s stock, valued at $700,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGNX. BB Biotech AG increased its position in MacroGenics by 17.7% in the first quarter. BB Biotech AG now owns 2,260,000 shares of the biopharmaceutical company’s stock worth $42,036,000 after buying an additional 340,000 shares during the period. OppenheimerFunds Inc. increased its position in MacroGenics by 9.4% in the first quarter. OppenheimerFunds Inc. now owns 3,323,025 shares of the biopharmaceutical company’s stock worth $61,808,000 after buying an additional 286,018 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in MacroGenics during the first quarter worth $4,514,000. Marshall Wace North America L.P. acquired a new position in MacroGenics during the first quarter worth $4,514,000. Finally, Bellevue Group AG increased its position in MacroGenics by 267.0% in the first quarter. Bellevue Group AG now owns 304,597 shares of the biopharmaceutical company’s stock worth $5,666,000 after buying an additional 221,597 shares during the period. 82.34% of the stock is owned by institutional investors and hedge funds.
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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