FY2024 Earnings Estimate for MacroGenics Issued By B. Riley

MacroGenics, Inc. (NASDAQ:MGNX - Free Report) - Equities researchers at B. Riley issued their FY2024 earnings per share estimates for MacroGenics in a research report issued on Wednesday, November 6th. B. Riley analyst M. Mamtani anticipates that the biopharmaceutical company will post earnings of $0.00 per share for the year. B. Riley has a "Neutral" rating and a $5.00 price objective on the stock. The consensus estimate for MacroGenics' current full-year earnings is ($0.85) per share. B. Riley also issued estimates for MacroGenics' Q4 2024 earnings at $0.82 EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.47) EPS, Q3 2025 earnings at ($0.14) EPS, Q4 2025 earnings at $0.57 EPS, FY2025 earnings at ($0.45) EPS, FY2026 earnings at ($1.36) EPS, FY2027 earnings at ($2.01) EPS and FY2028 earnings at ($1.54) EPS.

MGNX has been the topic of a number of other reports. Barclays dropped their target price on shares of MacroGenics from $14.00 to $9.00 and set an "overweight" rating on the stock in a research note on Monday, July 29th. HC Wainwright reissued a "neutral" rating and issued a $4.00 price target on shares of MacroGenics in a research note on Wednesday, November 6th. Evercore ISI upgraded shares of MacroGenics to a "strong-buy" rating in a research report on Monday, September 16th. Citigroup decreased their price objective on MacroGenics from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, August 15th. Finally, BTIG Research cut MacroGenics from a "buy" rating to a "neutral" rating in a research note on Thursday, August 1st. Eight analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, MacroGenics currently has an average rating of "Hold" and an average price target of $7.63.

MacroGenics Price Performance

Shares of NASDAQ:MGNX traded up $0.04 during trading on Monday, reaching $4.39. 566,811 shares of the stock were exchanged, compared to its average volume of 1,480,966. The firm has a market cap of $275.52 million, a price-to-earnings ratio of -2.75 and a beta of 2.08. The stock has a fifty day moving average of $3.61 and a two-hundred day moving average of $4.88. MacroGenics has a 1-year low of $2.95 and a 1-year high of $21.88.

Hedge Funds Weigh In On MacroGenics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC bought a new position in shares of MacroGenics in the 1st quarter worth approximately $40,000. CANADA LIFE ASSURANCE Co purchased a new position in MacroGenics during the first quarter valued at $52,000. China Universal Asset Management Co. Ltd. grew its position in shares of MacroGenics by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company's stock worth $40,000 after buying an additional 4,707 shares during the period. DRW Securities LLC bought a new position in shares of MacroGenics in the 2nd quarter worth about $56,000. Finally, K2 Principal Fund L.P. bought a new position in shares of MacroGenics in the 2nd quarter worth about $63,000. Hedge funds and other institutional investors own 96.89% of the company's stock.

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.