MacroGenics FY2024 EPS Estimate Increased by HC Wainwright

MacroGenics, Inc. (NASDAQ:MGNX - Free Report) - Equities researchers at HC Wainwright raised their FY2024 EPS estimates for shares of MacroGenics in a research note issued on Wednesday, November 6th. HC Wainwright analyst R. Burns now forecasts that the biopharmaceutical company will post earnings per share of ($0.95) for the year, up from their prior estimate of ($1.72). HC Wainwright has a "Neutral" rating and a $4.00 price target on the stock. The consensus estimate for MacroGenics' current full-year earnings is ($1.72) per share. HC Wainwright also issued estimates for MacroGenics' Q4 2024 earnings at ($0.12) EPS, Q1 2025 earnings at ($0.70) EPS, Q2 2025 earnings at ($0.72) EPS, Q3 2025 earnings at ($0.74) EPS, Q4 2025 earnings at ($0.76) EPS and FY2025 earnings at ($2.92) EPS.

MacroGenics (NASDAQ:MGNX - Get Free Report) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.42). MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. The firm had revenue of $10.80 million during the quarter, compared to analyst estimates of $24.14 million.

A number of other research analysts have also issued reports on MGNX. Citigroup lowered their target price on shares of MacroGenics from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. Guggenheim downgraded shares of MacroGenics from a "buy" rating to a "neutral" rating in a report on Wednesday, July 31st. Barclays reduced their price target on shares of MacroGenics from $14.00 to $9.00 and set an "overweight" rating for the company in a report on Monday, July 29th. StockNews.com downgraded shares of MacroGenics from a "hold" rating to a "sell" rating in a report on Saturday, November 2nd. Finally, BMO Capital Markets reduced their price target on shares of MacroGenics from $8.00 to $5.00 and set a "market perform" rating for the company in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $7.63.

MacroGenics Price Performance

NASDAQ:MGNX traded down $0.11 during midday trading on Friday, reaching $4.35. The stock had a trading volume of 730,943 shares, compared to its average volume of 1,485,177. MacroGenics has a 1-year low of $2.95 and a 1-year high of $21.88. The firm's fifty day simple moving average is $3.59 and its 200-day simple moving average is $5.11. The stock has a market capitalization of $273.02 million, a P/E ratio of -2.69 and a beta of 2.08.

Hedge Funds Weigh In On MacroGenics

A number of hedge funds and other institutional investors have recently made changes to their positions in MGNX. EntryPoint Capital LLC acquired a new stake in shares of MacroGenics during the 1st quarter worth about $40,000. China Universal Asset Management Co. Ltd. increased its position in shares of MacroGenics by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company's stock worth $40,000 after purchasing an additional 4,707 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new stake in shares of MacroGenics during the 1st quarter worth about $52,000. SG Americas Securities LLC acquired a new stake in shares of MacroGenics during the 3rd quarter worth about $55,000. Finally, DRW Securities LLC acquired a new stake in shares of MacroGenics during the 2nd quarter worth about $56,000. 96.89% of the stock is owned by institutional investors.

MacroGenics Company Profile

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.