MacroGenics Q2 revenue misses estimates, posts profit on asset sale
MGNX•Outlook and key details
- MacroGenics expects its cash runway to extend through 2028
- Company plans to provide preliminary clinical results for MGC028 in late 2026
- Updated lorigerlimab study results expected in first half of 2027
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Miss | $32.80 mln | $67.46 mln (4 Analysts) |
| Q2 Net Income | $19.50 mln |
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the biotechnology & medical research peer group is "buy"
- Wall Street's median 12-month price target for MacroGenics Inc is $7.00, about 74.1% above its August 12 closing price of $4.02
Quarterly results and drivers
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U.S. biopharmaceutical firm's Q2 revenue missed analyst expectations
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Net income for Q2 reversed prior yr loss, driven by income from discontinued operations
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Company completed sale of manufacturing operations for $122.5 mln, shifting to outsourced model
