FY2024 EPS Estimates for MacroGenics Boosted by Analyst

MacroGenics, Inc. (NASDAQ:MGNX) – Research analysts at HC Wainwright raised their FY2024 earnings 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 forecast 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) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.42). MacroGenics had a negative return on equity of 146.01% and a negative net margin of 332.47%. The business had revenue of $10.80 million for the quarter, compared to the consensus estimate of $24.14 million.

Several other research analysts have also recently weighed in on MGNX. StockNews.com cut shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. Citigroup dropped their price target on shares of MacroGenics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. JMP Securities lowered shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research report on Thursday. Evercore ISI upgraded shares of MacroGenics to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Guggenheim lowered shares of MacroGenics from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.63.

MacroGenics Stock Performance

Shares of NASDAQ MGNX opened at $4.46 on Friday. The firm’s 50 day moving average price is $3.59 and its 200-day moving average price is $5.11. The company has a market cap of $279.73 million, a PE ratio of -2.03 and a beta of 2.08. MacroGenics has a 52-week low of $2.95 and a 52-week high of $21.88.

Hedge Funds Weigh In On MacroGenics

Several large investors have recently made changes to their positions in MGNX. Price T Rowe Associates Inc. MD grew its holdings in shares of MacroGenics by 8,361.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,438,050 shares of the biopharmaceutical company’s stock valued at $35,889,000 after purchasing an additional 2,409,237 shares during the period. Frazier Life Sciences Management L.P. grew its holdings in shares of MacroGenics by 21.8% in the second quarter. Frazier Life Sciences Management L.P. now owns 3,010,727 shares of the biopharmaceutical company’s stock valued at $12,796,000 after purchasing an additional 539,023 shares during the period. Swiss National Bank purchased a new position in MacroGenics during the first quarter worth about $1,351,000. Millennium Management LLC boosted its stake in MacroGenics by 3,473.7% during the second quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock worth $14,079,000 after buying an additional 3,219,977 shares during the period. Finally, Marshall Wace LLP boosted its stake in MacroGenics by 1,689.3% during the second quarter. Marshall Wace LLP now owns 658,007 shares of the biopharmaceutical company’s stock worth $2,797,000 after buying an additional 621,232 shares during the period. 96.89% of the stock is currently owned by institutional investors and hedge funds.

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.