MacroGenics (NASDAQ:MGNX) Releases Quarterly Earnings Results, Misses Estimates By $0.42 EPS

MacroGenics (NASDAQ:MGNX) released its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.42), Zacks reports. The firm had revenue of $10.80 million for the quarter, compared to the consensus estimate of $24.14 million. MacroGenics had a negative return on equity of 98.01% and a negative net margin of 53.60%.

MacroGenics Stock Performance

NASDAQ MGNX traded down $0.26 on Wednesday, reaching $3.38. The company’s stock had a trading volume of 1,248,104 shares, compared to its average volume of 1,837,934. MacroGenics has a twelve month low of $3.14 and a twelve month high of $21.88. The stock has a market cap of $211.70 million, a PE ratio of -8.67 and a beta of 2.09. The firm’s 50 day moving average is $4.52 and its two-hundred day moving average is $11.02.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Stifel Nicolaus lowered shares of MacroGenics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $29.00 to $7.00 in a research report on Friday, May 10th. JMP Securities lowered their price target on shares of MacroGenics from $16.00 to $8.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 31st. HC Wainwright restated a “neutral” rating and set a $4.00 price target on shares of MacroGenics in a research report on Thursday, August 1st. TD Cowen lowered shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, BMO Capital Markets decreased their target price on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.00.

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.