HC Wainwright Increases Earnings Estimates for MacroGenics

MacroGenics, Inc. (NASDAQ:MGNX) – Stock analysts at HC Wainwright increased their FY2024 earnings per share (EPS) estimates for MacroGenics in a note issued to investors on Wednesday, November 6th. HC Wainwright analyst R. Burns now forecasts that the biopharmaceutical company will post earnings of ($0.95) per share 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 ($2.06) 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.

Other equities analysts have also recently issued research reports about the company. Evercore ISI raised MacroGenics to a “strong-buy” rating in a report on Monday, September 16th. JMP Securities lowered shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research report on Thursday. Guggenheim cut MacroGenics from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com downgraded MacroGenics from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. Finally, B. Riley cut MacroGenics from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $18.00 to $5.00 in a report on Wednesday, July 31st. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, MacroGenics currently has an average rating of “Hold” and a consensus price target of $7.63.

MacroGenics Trading Down 2.5 %

NASDAQ MGNX opened at $4.35 on Friday. MacroGenics has a 1 year low of $2.95 and a 1 year high of $21.88. The firm has a market capitalization of $273.01 million, a price-to-earnings ratio of -2.75 and a beta of 2.08. The firm’s 50 day simple moving average is $3.61 and its 200 day simple moving average is $4.96.

Institutional Investors Weigh In On MacroGenics

A number of institutional investors have recently made changes to their positions in the stock. EntryPoint Capital LLC bought a new stake in shares of MacroGenics in the 1st quarter valued at $40,000. CANADA LIFE ASSURANCE Co bought a new position in MacroGenics during the first quarter worth $52,000. China Universal Asset Management Co. Ltd. lifted its holdings in MacroGenics by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 4,707 shares during the period. DRW Securities LLC acquired a new stake in MacroGenics during the 2nd quarter worth about $56,000. Finally, K2 Principal Fund L.P. bought a new position in shares of MacroGenics in the 2nd quarter worth about $63,000. Institutional investors own 96.89% of the company’s stock.

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.