MacroGenics (NASDAQ:MGNX) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

MacroGenics (NASDAQ:MGNX - Get Free Report) announced its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02), Zacks reports. The business had revenue of $49.40 million during the quarter, compared to analysts' expectations of $34.17 million. MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%.

MacroGenics Price Performance

MacroGenics stock traded down $0.17 during mid-day trading on Tuesday, reaching $1.79. 1,165,007 shares of the company traded hands, compared to its average volume of 1,157,001. The firm's fifty day moving average is $2.61 and its two-hundred day moving average is $3.20. The company has a market capitalization of $112.35 million, a price-to-earnings ratio of -1.13 and a beta of 2.12. MacroGenics has a fifty-two week low of $1.89 and a fifty-two week high of $19.54.

Wall Street Analyst Weigh In

MGNX has been the topic of several recent research reports. StockNews.com cut MacroGenics from a "buy" rating to a "hold" rating in a research report on Friday. HC Wainwright reduced their target price on shares of MacroGenics from $4.00 to $2.00 and set a "neutral" rating for the company in a report on Tuesday. Nine analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $7.38.

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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.