MacroGenics, Inc. (NASDAQ:MGNX - Free Report) - HC Wainwright decreased their Q3 2024 earnings estimates for shares of MacroGenics in a research report issued to clients and investors on Wednesday, August 21st. HC Wainwright analyst R. Burns now expects that the biopharmaceutical company will earn $0.81 per share for the quarter, down from their prior forecast of $0.92. HC Wainwright has a "Neutral" rating and a $4.00 price objective on the stock. The consensus estimate for MacroGenics' current full-year earnings is ($2.19) per share. HC Wainwright also issued estimates for MacroGenics' Q4 2024 earnings at ($0.81) EPS, FY2024 earnings at ($1.72) EPS, Q1 2025 earnings at ($0.85) EPS, Q2 2025 earnings at ($0.87) EPS, Q3 2025 earnings at ($0.89) EPS, Q4 2025 earnings at ($0.91) EPS and FY2025 earnings at ($3.51) EPS.
Other analysts have also recently issued reports about the stock. B. Riley cut shares of MacroGenics from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $18.00 to $5.00 in a report on Wednesday, July 31st. Citigroup cut their target price on shares of MacroGenics from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, August 15th. BMO Capital Markets lowered their target price on MacroGenics from $8.00 to $5.00 and set a "market perform" rating for the company in a report on Wednesday, August 7th. Barclays dropped their price target on MacroGenics from $14.00 to $9.00 and set an "overweight" rating on the stock in a research report on Monday, July 29th. Finally, TD Cowen lowered MacroGenics from a "buy" rating to a "hold" rating in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $8.11.
Check Out Our Latest Analysis on MacroGenics
MacroGenics Stock Performance
Shares of NASDAQ MGNX traded up $0.16 during trading on Friday, reaching $3.49. The stock had a trading volume of 704,599 shares, compared to its average volume of 1,755,938. The firm's 50 day moving average price is $4.26 and its two-hundred day moving average price is $10.21. MacroGenics has a one year low of $3.14 and a one year high of $21.88. The stock has a market cap of $218.59 million, a PE ratio of -9.15 and a beta of 2.09.
MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.42). MacroGenics had a negative net margin of 53.60% and a negative return on equity of 98.01%. The firm had revenue of $10.80 million during the quarter, compared to the consensus estimate of $24.14 million.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. EntryPoint Capital LLC acquired a new position in MacroGenics during the first quarter worth about $40,000. AJOVista LLC acquired a new position in shares of MacroGenics in the 4th quarter worth approximately $51,000. CANADA LIFE ASSURANCE Co bought a new stake in shares of MacroGenics in the 1st quarter worth approximately $52,000. DRW Securities LLC acquired a new stake in MacroGenics during the second quarter valued at approximately $56,000. Finally, K2 Principal Fund L.P. bought a new stake in MacroGenics during the second quarter worth approximately $63,000. 96.89% of the stock is currently owned by institutional investors.
About MacroGenics
(
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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.
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