MacroGenics (NASDAQ:MGNX) Issues Earnings Results, Misses Expectations By $0.42 EPS

MacroGenics (NASDAQ:MGNX) issued its earnings results on Tuesday. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42), Zacks reports. The company had revenue of $10.80 million for the quarter, compared to analysts’ expectations of $24.14 million. MacroGenics had a negative return on equity of 98.01% and a negative net margin of 53.60%.

MacroGenics Stock Down 2.3 %

MGNX stock traded down $0.08 during trading hours on Friday, hitting $3.37. The company’s stock had a trading volume of 56,892 shares, compared to its average volume of 1,818,888. MacroGenics has a 12 month low of $3.14 and a 12 month high of $21.88. The stock has a 50 day moving average price of $4.49 and a two-hundred day moving average price of $10.91. The company has a market capitalization of $211.07 million, a PE ratio of -8.85 and a beta of 2.09.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. TD Cowen cut shares of MacroGenics from a “buy” rating to a “hold” rating in a report on Friday, May 10th. StockNews.com lowered shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Thursday. Stifel Nicolaus lowered shares of MacroGenics from a “buy” rating to a “hold” rating and decreased their target price for the company from $29.00 to $7.00 in a report on Friday, May 10th. HC Wainwright reaffirmed a “neutral” rating and set a $4.00 price objective on shares of MacroGenics in a research report on Thursday, August 1st. Finally, BMO Capital Markets cut their target price on MacroGenics from $8.00 to $5.00 and set a “market perform” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.00.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.