MacroGenics (MGNX) Stock Sinks As Market Gains: What You Should Know
MacroGenics (MGNX) closed at $5.70 in the latest trading session, marking a -0.35% move from the prior day. This change lagged the S&P 500's 2.28% gain on the day. At the same time, the Dow added 2.13%, and the tech-heavy Nasdaq gained 5.02%.
Prior to today's trading, shares of the biopharmaceutical company had lost 8.04% over the past month. This has lagged the Medical sector's gain of 0.62% and the S&P 500's loss of 4.61% in that time.
Investors will be hoping for strength from MacroGenics as it approaches its next earnings release. The company is expected to report EPS of $0.65, up 168.42% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $109.44 million, up 673.45% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for MacroGenics. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MacroGenics is holding a Zacks Rank of #2 (Buy) right now.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 152, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MGNX in the coming trading sessions, be sure to utilize Zacks.com.
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MacroGenics, Inc. (MGNX) : Free Stock Analysis Report
