MacroGenics, Inc. (NASDAQ:MGNX) issued its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.00) by $0.14, Briefing.com reports. MacroGenics had a negative return on equity of 23.24% and a negative net margin of 72.30%. The business had revenue of $1.70 million for the quarter, compared to analyst estimates of $15.82 million. During the same quarter in the previous year, the business posted $1.12 earnings per share. The business’s revenue was down 97.9% on a year-over-year basis.
MacroGenics (NASDAQ MGNX) traded down 2.86% during trading on Wednesday, hitting $15.31. 204,736 shares of the stock were exchanged. The stock’s market cap is $536.03 million. The stock has a 50 day moving average of $17.76 and a 200-day moving average of $18.87. MacroGenics has a 52 week low of $15.18 and a 52 week high of $33.30.
A number of analysts have weighed in on the company. BidaskClub downgraded MacroGenics from a “hold” rating to a “sell” rating in a report on Monday. Zacks Investment Research upgraded MacroGenics from a “sell” rating to a “hold” rating and set a $19.00 price target for the company in a report on Tuesday, July 18th. Finally, Morgan Stanley decreased their price target on MacroGenics from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, May 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. MacroGenics has a consensus rating of “Buy” and a consensus price target of $32.40.
In related news, SVP Jon Marc Wigginton sold 5,000 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the transaction, the senior vice president now owns 35,000 shares in the company, valued at $700,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.30% of the stock is owned by insiders.
MacroGenics Company Profile
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.
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