Medgenics Inc (GNMX) Forecasted to Post Q2 2017 Earnings of ($0.17) Per Share

Medgenics Inc (NASDAQ:GNMX) – Stock analysts at Jefferies Group upped their Q2 2017 earnings per share (EPS) estimates for Medgenics in a research report issued on Tuesday, Zacks Investment Research reports. Jefferies Group analyst M. Andrews now forecasts that the biotechnology company will earn ($0.17) per share for the quarter, up from their previous forecast of ($0.20). Jefferies Group has a “Hold” rating and a $2.50 price objective on the stock. Jefferies Group also issued estimates for Medgenics’ Q3 2017 earnings at ($0.20) EPS, Q4 2017 earnings at ($0.43) EPS, FY2017 earnings at ($1.04) EPS, FY2018 earnings at ($1.72) EPS, FY2019 earnings at ($2.51) EPS, FY2020 earnings at ($3.06) EPS and FY2021 earnings at ($1.72) EPS.

Medgenics (NASDAQ:GNMX) last released its quarterly earnings data on Thursday, March 9th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.09.

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Separately, Needham & Company LLC reissued a “buy” rating and set a $9.00 target price (down previously from $12.00) on shares of Medgenics in a report on Tuesday, March 21st.

Medgenics (NASDAQ:GNMX) traded down 18.2742% during mid-day trading on Thursday, reaching $1.5201. The company’s stock had a trading volume of 1,869,700 shares. Medgenics has a 52-week low of $1.50 and a 52-week high of $17.75. The firm has a 50 day moving average price of $3.01 and a 200 day moving average price of $4.68. The company’s market cap is $56.41 million.

In other news, major shareholder Philip R. Harper purchased 1,058,531 shares of the firm’s stock in a transaction dated Friday, March 24th. The shares were purchased at an average price of $1.78 per share, with a total value of $1,884,185.18. Following the completion of the acquisition, the insider now owns 4,786,682 shares in the company, valued at approximately $8,520,293.96. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 23.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GNMX. Broadfin Capital LLC purchased a new position in Medgenics during the fourth quarter valued at $17,458,000. Opaleye Management Inc. purchased a new position in Medgenics during the fourth quarter valued at $7,770,000. Birchview Capital LP purchased a new position in Medgenics during the fourth quarter valued at $249,000. Oxford Asset Management purchased a new position in Medgenics during the fourth quarter valued at $249,000. Finally, State Street Corp raised its position in shares of Medgenics by 15.4% in the fourth quarter. State Street Corp now owns 345,698 shares of the biotechnology company’s stock valued at $1,789,000 after buying an additional 46,149 shares during the period. 44.69% of the stock is currently owned by hedge funds and other institutional investors.

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