MacroGenics, Inc. (MGNX) to Post FY2017 Earnings of ($0.43) Per Share, SunTrust Banks Forecasts
MacroGenics, Inc. (NASDAQ:MGNX) – Research analysts at SunTrust Banks lifted their FY2017 earnings per share estimates for MacroGenics in a research note issued on Wednesday. SunTrust Banks analyst P. Lawson now anticipates that the biopharmaceutical company will post earnings per share of ($0.43) for the year, up from their previous estimate of ($4.45). SunTrust Banks has a “Buy” rating and a $26.00 price objective 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.
MGNX has been the subject of a number of other research reports. Stifel Nicolaus reissued a “buy” rating and set a $34.00 target price on shares of MacroGenics in a research report on Tuesday, September 12th. Zacks Investment Research lowered shares of MacroGenics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. ValuEngine lowered shares of MacroGenics from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. BidaskClub raised shares of MacroGenics from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Morgan Stanley cut their price objective on shares of MacroGenics from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $30.10.
TRADEMARK VIOLATION WARNING: This report was posted by Watch List News and is the property of of Watch List News. If you are reading this report on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The original version of this report can be viewed at https://www.watchlistnews.com/macrogenics-inc-mgnx-to-post-fy2017-earnings-of-0-43-per-share-suntrust-banks-forecasts/1701448.html.
MacroGenics (MGNX) opened at $17.85 on Monday. MacroGenics has a 52-week low of $14.36 and a 52-week high of $31.85.
MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.19). MacroGenics had a negative net margin of 1,526.55% and a negative return on equity of 69.31%. The business had revenue of $1.70 million during the quarter, compared to analyst estimates of $5.50 million. During the same period in the previous year, the firm posted ($0.97) EPS. The firm’s revenue for the quarter was down 48.5% on a year-over-year basis.
In related news, SVP Jon Marc Wigginton sold 10,000 shares of the company’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 sale, the senior vice president now owns 40,000 shares of the company’s stock, valued at $800,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.30% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Jennison Associates LLC grew its stake in MacroGenics by 0.6% during the second quarter. Jennison Associates LLC now owns 189,970 shares of the biopharmaceutical company’s stock worth $3,326,000 after buying an additional 1,062 shares during the last quarter. American International Group Inc. grew its stake in MacroGenics by 7.1% during the first quarter. American International Group Inc. now owns 19,632 shares of the biopharmaceutical company’s stock worth $365,000 after buying an additional 1,300 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in MacroGenics by 21.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 148,792 shares of the biopharmaceutical company’s stock worth $2,606,000 after buying an additional 25,823 shares during the last quarter. Vanguard Group Inc. grew its stake in MacroGenics by 3.4% during the first quarter. Vanguard Group Inc. now owns 1,352,864 shares of the biopharmaceutical company’s stock worth $25,163,000 after buying an additional 44,680 shares during the last quarter. Finally, FMR LLC grew its stake in MacroGenics by 6.0% during the second quarter. FMR LLC now owns 5,238,917 shares of the biopharmaceutical company’s stock worth $91,733,000 after buying an additional 295,553 shares during the last quarter. 84.72% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for MacroGenics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MacroGenics Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.