MacroGenics, Inc. (NASDAQ:MGNX) is reporting third quarter financial results on Wednesday 4th November 2020, after market close.
According to analysts surveyed by Thomson Reuters, MGNX is expected to report 3Q20 loss of $ 0.93 per share from revenue of $ 15.79 million.
For the full year, analysts anticipate top line of $ 68.09 million, while looking forward to loss of $ 3.64 per share bottom line.
Previous Quarter Performance
MacroGenics, Inc. outlined loss for the second quarter of $ 0.94 per share, from the revenue of $ 20.26 million. The quarterly revenues expanded 91.31 percent compared with the same quarter last year. Street analysts expected MacroGenics, Inc. to report loss of $ 0.92 per share on revenue of $ 12.74 million for the second quarter. The bottom line results missed street analysts by $ 0.02 or 2.17 percent, at the same time, top line results outshined analysts by $ 7.52 million or 59.03 percent.
Stock Performance
Shares of MacroGenics, Inc. traded up $ 0.60 or 3.09 percent on Tuesday, reaching $ 20.01 with volume of 682.30 thousand shares. MacroGenics, Inc. has traded high as $ 20.31 and has cracked $ 19.40 on the downward trend
According to the previous trading day, closing price of $ 20.01, representing a 380.45 % increase from the 52 week low of $ 4.04 and a 39.68 % decrease over the 52 week high of $ 32.18.
The company has a market capital of $ 1.08 billion and is part of the Healthcare sector and Biotechnology industry.
Recent Analyst recommendations
- On 13th October 2020, maintained by Morgan Stanley at Underweight rating, with $ 13.00 target price.
- On 21st September 2020, maintained by SVB Leerink at Outperform rating, with $ 38.00 target price.
Conference Call
MacroGenics, Inc. will be hosting a conference call at 4:30 PM eastern time on 4th November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.macrogenics.com
MacroGenics, Inc., a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers. The company is also developing Flotetuzumab, a DART molecule that recognizes CD123 and CD3; MGA012, an anti-PD-1 monoclonal antibody, which inhibits programmed cell death protein 1 (PD-1); MGD013, a monoclonal antibody that targets the immune checkpoints PD-1 and lymphocyte-activation gene 3; MGD019, a monoclonal antibody that targets the immune checkpoints PD-1 and cytotoxic T-lymphocyte-associated protein 4; and Enoblituzumab, a monoclonal antibody that targets B7-H3.
