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Will Macrogenics Inc (NASDAQ: MGNX) In 2024 Be Worth Your Money?

In the last trading session, 1.85 million Macrogenics Inc (NASDAQ:MGNX) shares changed hands as the company’s beta touched 2.09. With the company’s per share price at $17.32 changed hands at -$0.98 or -5.36% during last session, the market valuation stood at $1.07B. MGNX’s last price was a discount, traded about -8.83% off its 52-week high of $18.85. The share price had its 52-week low at $4.29, which suggests the last value was 75.23% up since then. When we look at Macrogenics Inc’s average trading volume, we note the 10-day average is 1.76 million shares, with the 3-month average coming to 2.11.

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Macrogenics Inc (NASDAQ:MGNX) trade information

Instantly MGNX was in red as seen at the end of in last trading. With action 12.14%, the performance over the past five days has been green. The drop to weekly highs of 18.85 subtracted -5.36% to the stock’s daily price. The company’s shares are showing year-to-date upside of 80.04%, with the 5-day performance at 12.14% in the green. However, in the 30-day time frame, Macrogenics Inc (NASDAQ:MGNX) is 59.63% up. Looking at the short shares, we see there were 8.34 million shares sold at short interest cover period of 8.37 days.

Macrogenics Inc (MGNX) estimates and forecasts

Data shows that the Macrogenics Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 179.81% over the past 6 months, a 116.41% in annual growth rate that is considerably higher than the industry average of 17.10%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Macrogenics Inc will fall -171.40%, while the growth in revenue is estimated to hit 23.00% for the next quarter. Year-over-year growth is forecast to reach -47.30% down from the last financial year.

Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of $31.88 million. 5 analysts are of the opinion that Macrogenics Inc’s revenue for the quarter ending Mar 2024 will be $14.34 million. The company’s revenue for the corresponding quarters a year ago was $73.1 million and $24.5 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -56.40%. The estimates for the next quarter sales put growth at -41.50%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -29.27%. The 2024 estimates are for Macrogenics Inc earnings to increase by 121.89%.

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