Zacks: Analysts Anticipate Magenta Therapeutics, Inc. (NASDAQ:MGTA) to Announce -$0.34 EPS

Wall Street brokerages expect Magenta Therapeutics, Inc. (NASDAQ:MGTAGet Rating) to announce ($0.34) earnings per share for the current quarter, according to Zacks. Zero analysts have provided estimates for Magenta Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.37) and the highest estimate coming in at ($0.29). Magenta Therapeutics posted earnings of ($0.36) per share during the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, 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 financial year, analysts expect that the firm will report 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 research firms that follow Magenta Therapeutics.

Magenta Therapeutics (NASDAQ:MGTAGet Rating) last issued its quarterly earnings results on Tuesday, March 8th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.01).

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Magenta Therapeutics from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a research report on Wednesday. Mizuho lowered their price target on Magenta Therapeutics from $17.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, April 18th. BTIG Research lowered their price target on Magenta Therapeutics from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, April 18th. Finally, B. Riley lowered their price target on Magenta Therapeutics from $13.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, January 24th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $8.04.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its holdings in shares of Magenta Therapeutics by 1.6% in the 3rd quarter. Principal Financial Group Inc. now owns 482,401 shares of the company’s stock worth $3,512,000 after acquiring an additional 7,501 shares during the last quarter. Hershey Trust Co. purchased a new position in shares of Magenta Therapeutics during the third quarter valued at $148,000. Two Sigma Advisers LP grew its holdings in shares of Magenta Therapeutics by 6.1% during the third quarter. Two Sigma Advisers LP now owns 219,000 shares of the company’s stock valued at $1,594,000 after buying an additional 12,600 shares in the last quarter. Eversept Partners LP purchased a new position in shares of Magenta Therapeutics during the third quarter valued at $1,448,000. Finally, BlackRock Inc. grew its holdings in shares of Magenta Therapeutics by 4.2% during the third quarter. BlackRock Inc. now owns 2,215,655 shares of the company’s stock valued at $16,130,000 after buying an additional 88,557 shares in the last quarter. Institutional investors and hedge funds own 69.63% of the company’s stock.

Shares of MGTA stock traded up $0.17 during mid-day trading on Friday, hitting $1.14. 276,185 shares of the stock traded hands, compared to its average volume of 300,057. Magenta Therapeutics has a twelve month low of $0.92 and a twelve month high of $12.98. The firm has a market cap of $67.03 million, a price-to-earnings ratio of -0.87 and a beta of 2.24. The company’s 50-day simple moving average is $2.35 and its 200-day simple moving average is $3.93.

About Magenta Therapeutics (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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