MacroGenics (MGNX) Beats Q3 Earnings and Revenue Estimates

Company Performance - MacroGenics reported quarterly earnings of $0.90 per share, significantly exceeding the Zacks Consensus Estimate of$ 0.17 per share, compared to a loss of $0.52 per share a year ago, representing an earnings surprise of 429.41% [1] - The company posted revenues of$ 110.71 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 14.09%, compared to revenues of $10.4 million in the same quarter last year [2] - Over the last four quarters, MacroGenics has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once [2] Stock Performance - MacroGenics shares have declined approximately 61.5% since the beginning of the year, while the S&P 500 has gained 19.8% [3] - The current consensus EPS estimate for the upcoming quarter is -$ 0.21 on revenues of $49.6 million, and for the current fiscal year, it is -$ 2.06 on revenues of $155.98 million [7] Industry Outlook - The Medical - Products industry, to which MacroGenics belongs, is currently ranked in the top 33% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact MacroGenics' stock performance [5]