Zacks: Brokerages Anticipate Magenta Therapeutics, Inc. (NASDAQ:MGTA) Will Announce Earnings of -$0.34 Per Share

Equities research analysts expect Magenta Therapeutics, Inc. (NASDAQ:MGTA – Get Rating) to post earnings per share of ($0.34) for the current quarter, according to Zacks. Zero analysts have issued estimates for Magenta Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.29) and the lowest estimate coming in at ($0.37). Magenta Therapeutics posted earnings of ($0.36) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 5.6%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Magenta Therapeutics will report full year earnings of ($1.43) per share for the current year, with EPS estimates ranging from ($1.55) to ($1.30). For the next year, analysts expect that the business will post earnings of ($1.45) per share, with EPS estimates ranging from ($1.65) to ($1.18). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Magenta Therapeutics.

Magenta Therapeutics (NASDAQ:MGTA – Get Rating) last announced its quarterly earnings results on Tuesday, March 8th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01).

MGTA has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Magenta Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, March 11th. B. Riley dropped their price target on shares of Magenta Therapeutics from $13.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, January 24th. BTIG Research lowered their price objective on shares of Magenta Therapeutics from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, April 18th. The Goldman Sachs Group upgraded shares of Magenta Therapeutics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $7.00 to $8.00 in a research note on Wednesday, January 5th. Finally, Mizuho reduced their price objective on shares of Magenta Therapeutics from $17.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, April 18th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Magenta Therapeutics currently has an average rating of “Buy” and a consensus target price of $9.04.

Large investors have recently bought and sold shares of the stock. Morgan Stanley increased its stake in Magenta Therapeutics by 6,706.4% during the second quarter. Morgan Stanley now owns 59,352 shares of the company’s stock valued at $581,000 after acquiring an additional 58,480 shares during the period. Millennium Management LLC lifted its holdings in shares of Magenta Therapeutics by 47.9% during the 2nd quarter. Millennium Management LLC now owns 64,115 shares of the company’s stock worth $627,000 after acquiring an additional 20,765 shares during the period. Invesco Ltd. acquired a new stake in shares of Magenta Therapeutics during the 2nd quarter valued at about $107,000. Vontobel Holding Ltd. bought a new stake in Magenta Therapeutics in the third quarter valued at about $108,000. Finally, SG Americas Securities LLC acquired a new position in Magenta Therapeutics in the third quarter worth about $107,000. Institutional investors and hedge funds own 59.13% of the company’s stock.

MGTA stock traded down $0.09 on Friday, reaching $1.59. The company’s stock had a trading volume of 290,892 shares, compared to its average volume of 141,661. Magenta Therapeutics has a 12-month low of $1.55 and a 12-month high of $13.22. The firm has a market cap of $93.49 million, a PE ratio of -1.21 and a beta of 2.01. The business has a fifty day simple moving average of $2.81 and a two-hundred day simple moving average of $4.53.

Magenta Therapeutics Company Profile (Get Rating)

Magenta Therapeutics, Inc, a clinical-stage biotechnology company, develops medicines to bring the curative power of stem cell transplants to patients with blood cancers, genetic diseases, and autoimmune diseases. It develops MGTA-117, an anti-CD117 antibody that targets hematopoietic stem cells (HSCs) and genetically mutated stem cells that cause acute myeloid leukemia and myelodysplastic syndromes, which is under Phase I/II clinical trial; CD45-antibody drug conjugate that targets HSCs and immune cells, which is in investigational new drug application enabling studies for potential use as a single-agent in autoimmune diseases and hematology-oncology transplants; and MGTA-145 that is in Phase II clinical trial for use in autologous and allogeneic transplants.

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