Brokerages Anticipate Magenta Therapeutics Inc (MGTA) to Post -$0.53 EPS

Analysts expect Magenta Therapeutics Inc (NASDAQ:MGTA) to announce ($0.53) earnings per share for the current quarter, according to Zacks. Zero analysts have issued estimates for Magenta Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.46) and the lowest estimate coming in at ($0.56). The company is scheduled to issue its next earnings report on Tuesday, June 18th.

According to Zacks, analysts expect that Magenta Therapeutics will report full-year earnings of ($2.29) per share for the current financial year, with EPS estimates ranging from ($2.54) to ($2.07). For the next fiscal year, analysts expect that the company will report earnings of ($2.33) per share, with EPS estimates ranging from ($2.55) to ($1.92). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Magenta Therapeutics.

Magenta Therapeutics (NASDAQ:MGTA) last posted its quarterly earnings results on Tuesday, March 19th. The company reported ($0.50) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.53) by $0.03.

Several analysts have issued reports on the stock. Goldman Sachs Group downgraded shares of Magenta Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $17.00 to $16.00 in a research report on Sunday, March 24th. They noted that the move was a valuation call. ValuEngine downgraded shares of Magenta Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, January 4th. Zacks Investment Research raised shares of Magenta Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, December 25th. Finally, Raymond James assumed coverage on shares of Magenta Therapeutics in a research report on Thursday, March 14th. They issued an “outperform” rating for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $19.00.

NASDAQ MGTA opened at $15.89 on Friday. Magenta Therapeutics has a one year low of $5.31 and a one year high of $21.00. The company has a market capitalization of $531.84 million and a P/E ratio of -5.08.

In other Magenta Therapeutics news, Director Bruce Booth sold 14,245 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $17.86, for a total value of $254,415.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge funds have recently added to or reduced their stakes in the company. New York State Common Retirement Fund acquired a new position in Magenta Therapeutics in the fourth quarter worth $27,000. Aries Wealth Management purchased a new position in Magenta Therapeutics in the 1st quarter worth about $198,000. Bank of New York Mellon Corp purchased a new position in Magenta Therapeutics in the 4th quarter worth about $90,000. Two Sigma Investments LP purchased a new position in Magenta Therapeutics in the 4th quarter worth about $104,000. Finally, Geode Capital Management LLC increased its stake in Magenta Therapeutics by 42.9% in the 4th quarter. Geode Capital Management LLC now owns 21,739 shares of the company’s stock worth $123,000 after purchasing an additional 6,525 shares in the last quarter. 55.82% of the stock is owned by institutional investors and hedge funds.

About Magenta Therapeutics

Magenta Therapeutics, Inc, a clinical-stage biotechnology company, develops novel medicines to extend the curative power of stem cell transplant, gene therapy, genome editing, and cell therapy to patients. It is developing C100, C200, and C300 targeted antibody-drug conjugates for transplant conditioning; MGTA-145, a novel stem cell mobilization product candidate to control stem cell mobilization; MGTA-456, an allogeneic stem cell therapy to control stem cell growth; E478, a small molecule aryl hydrocarbon receptor antagonist for the expansion of gene-modified stem cells; and G100, an antibody-drug conjugate program to prevent acute graft and host diseases.

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