Zacks: Brokerages Anticipate Magenta Therapeutics Inc (NASDAQ:MGTA) to Announce -$0.45 EPS

Equities analysts forecast that Magenta Therapeutics Inc (NASDAQ:MGTA) will report earnings per share (EPS) of ($0.45) for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Magenta Therapeutics’ earnings. The highest EPS estimate is ($0.43) and the lowest is ($0.48). Magenta Therapeutics posted earnings of ($0.54) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 16.7%. The firm is scheduled to announce its next earnings report on Wednesday, November 11th.

According to Zacks, analysts expect that Magenta Therapeutics will report full-year earnings of ($1.92) per share for the current fiscal year, with EPS estimates ranging from ($1.97) to ($1.84). For the next year, analysts anticipate that the firm will post earnings of ($2.03) per share, with EPS estimates ranging from ($2.10) to ($1.97). Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that that provide coverage for Magenta Therapeutics.

Magenta Therapeutics (NASDAQ:MGTA) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.06.

A number of research firms recently commented on MGTA. Wedbush restated an “outperform” rating and issued a $22.00 price objective on shares of Magenta Therapeutics in a research report on Thursday, August 13th. Zacks Investment Research raised Magenta Therapeutics from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a research note on Thursday, October 8th. BidaskClub raised Magenta Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, October 8th. Finally, JPMorgan Chase & Co. started coverage on Magenta Therapeutics in a research report on Wednesday. They issued an “overweight” rating for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $16.31.

MGTA traded down $0.08 during mid-day trading on Friday, hitting $7.31. The stock had a trading volume of 59,670 shares, compared to its average volume of 223,599. The stock’s fifty day simple moving average is $7.16 and its 200-day simple moving average is $8.01. The firm has a market capitalization of $352.73 million, a price-to-earnings ratio of -3.45 and a beta of 2.58. Magenta Therapeutics has a 1-year low of $5.76 and a 1-year high of $16.19.

Several hedge funds have recently bought and sold shares of MGTA. AQR Capital Management LLC raised its position in Magenta Therapeutics by 157.0% in the 2nd quarter. AQR Capital Management LLC now owns 28,660 shares of the company’s stock valued at $215,000 after buying an additional 17,507 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Magenta Therapeutics in the second quarter valued at approximately $295,000. Captrust Financial Advisors bought a new stake in shares of Magenta Therapeutics in the second quarter worth $30,000. Luminus Management LLC bought a new stake in shares of Magenta Therapeutics in the second quarter worth $2,698,000. Finally, Artal Group S.A. acquired a new position in Magenta Therapeutics during the second quarter worth $3,380,000. 61.41% of the stock is owned by institutional investors.

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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Earnings History and Estimates for Magenta Therapeutics (NASDAQ:MGTA)

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