MacroGenics (NASDAQ:MGNX) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

MacroGenics (NASDAQ:MGNX) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02), Zacks reports. The company had revenue of $49.40 million during the quarter, compared to analyst estimates of $34.17 million. MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%.

MacroGenics Trading Down 4.8 %

NASDAQ MGNX opened at $2.00 on Friday. The stock has a fifty day simple moving average of $2.66 and a 200-day simple moving average of $3.22. The stock has a market cap of $125.53 million, a PE ratio of -1.27 and a beta of 2.12. MacroGenics has a twelve month low of $1.89 and a twelve month high of $19.54.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded MacroGenics from a “buy” rating to a “hold” rating in a research note on Friday. Nine investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.63.

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.