FY2024 EPS Estimates for MacroGenics Increased by Analyst

MacroGenics, Inc. (NASDAQ:MGNX) – HC Wainwright lifted their FY2024 earnings estimates for MacroGenics in a report issued on Wednesday, November 6th. HC Wainwright analyst R. Burns now forecasts that the biopharmaceutical company will earn ($0.95) per share for the year, up from their previous estimate of ($1.72). HC Wainwright currently has a “Neutral” rating and a $4.00 target price 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.

Several other analysts have also recently weighed in on the stock. Citigroup reduced 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. Barclays cut their price objective on shares of MacroGenics from $14.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. Evercore ISI raised shares of MacroGenics to a “strong-buy” rating in a report on Monday, September 16th. BMO Capital Markets cut their price objective on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Finally, BTIG Research cut shares of MacroGenics from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.63.

MacroGenics Stock Up 6.4 %

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 stock has a market cap of $279.73 million, a price-to-earnings ratio of -2.03 and a beta of 2.08. MacroGenics has a fifty-two week low of $2.95 and a fifty-two week high of $21.88.

MacroGenics (NASDAQ:MGNX) last issued its earnings results 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). The firm had revenue of $10.80 million during the quarter, compared to analyst estimates of $24.14 million. MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%.

Institutional Investors Weigh In On MacroGenics

Institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of MacroGenics by 8,361.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,438,050 shares of the biopharmaceutical company’s stock worth $35,889,000 after purchasing an additional 2,409,237 shares in the last quarter. Frazier Life Sciences Management L.P. raised its stake in shares of MacroGenics by 21.8% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,010,727 shares of the biopharmaceutical company’s stock worth $12,796,000 after buying an additional 539,023 shares during the last quarter. Swiss National Bank acquired a new position in shares of MacroGenics during the 1st quarter worth $1,351,000. Millennium Management LLC raised its stake in shares of MacroGenics by 3,473.7% during the 2nd 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 last quarter. Finally, Marshall Wace LLP raised its stake in shares of MacroGenics by 1,689.3% during the 2nd 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 last quarter. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

About MacroGenics

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.