Compared to Estimates, MacroGenics (MGNX) Q2 Earnings: A Look at Key Metrics

Core Insights - MacroGenics reported a revenue of $10.8 million for Q2 2024, marking a year-over-year decline of 17.8% and an EPS of -$0.89 compared to -$0.36 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $24.14 million, resulting in a surprise of -55.28%, while the EPS surprise was -89.36% against a consensus estimate of -$0.47 [1] Revenue Breakdown - Product sales generated $5.25 million, slightly below the average estimate of $5.73 million, reflecting a year-over-year increase of 3.7% [3] - Revenue from government agreements was $0.49 million, exceeding the estimated $0.45 million, representing a year-over-year increase of 5.8% [4] - Revenue from collaborative and other agreements was $2.07 million, significantly lower than the average estimate of $8.61 million, indicating a year-over-year decline of 65.7% [5] Stock Performance - Over the past month, MacroGenics shares have returned -15.4%, compared to a -6.7% change in the Zacks S&P 500 composite [5] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [5]