MacroGenics (NASDAQ:MGNX) Posts Earnings Results, Beats Estimates By $0.73 EPS

MacroGenics (NASDAQ:MGNX) issued its quarterly earnings results on Tuesday. The biopharmaceutical company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.73, reports. MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. The firm had revenue of $110.71 million for the quarter, compared to analyst estimates of $97.04 million.

MacroGenics Stock Performance

MGNX opened at $4.19 on Thursday. The stock’s 50 day moving average price is $3.57 and its 200-day moving average price is $5.12. MacroGenics has a 52-week low of $2.95 and a 52-week high of $21.88. The stock has a market capitalization of $262.80 million, a PE ratio of -1.90 and a beta of 2.08.

Analysts Set New Price Targets

MGNX has been the topic of a number of research reports. B. Riley downgraded MacroGenics from a “buy” rating to a “neutral” rating and lowered their price target for the company from $18.00 to $5.00 in a research report on Wednesday, July 31st. Citigroup dropped their target price on MacroGenics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. BMO Capital Markets decreased their price target on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Barclays cut their price objective on shares of MacroGenics from $14.00 to $9.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. Finally, StockNews.com lowered shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, MacroGenics currently has an average rating of “Hold” and an average target price of $8.11.

Institutional Trading of MacroGenics

Several large investors have recently added to or reduced their stakes in MGNX. EntryPoint Capital LLC purchased a new stake in shares of MacroGenics in the 1st quarter worth about $40,000. China Universal Asset Management Co. Ltd. boosted its position in 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 valued at $40,000 after acquiring an additional 4,707 shares in the last quarter. CANADA LIFE ASSURANCE Co purchased a new position in shares of MacroGenics during the 1st quarter worth approximately $52,000. SG Americas Securities LLC bought a new position in shares of MacroGenics in the 3rd quarter worth approximately $55,000. Finally, DRW Securities LLC purchased a new position in shares of MacroGenics in the 2nd quarter valued at approximately $56,000. Institutional investors own 96.89% of the company’s stock.

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.