Roth Capital Assigns Buy On MacroGenics On The Back Of Collaboration Expansion With Takeda
In a research report released today to investors, Roth Capital analyst Debjit Chattopadhyay assigned a Buy rating on MacroGenics (NASDAQ:MGNX) with a $32 price target, following the news that Takeda and MGNX have expanded their existing collaboration to develop and commercialize up to four new compounds based on MGNX’s proprietary Dual-Affinity Re-Targeting (DART) platform.
Chattopadhyay noted, “Although, there is no upfront payment, TYO will be responsible for all costs incurred during the development, which significantly expands MGNX’s balance sheet flexibility. DART is MGNX’s core asset in our opinion, and two oncology focused DART molecules are already in the clinic.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Debjit Chattopadhyay has a total average return of -2.1% and a 22.2% success rate. Chattopadhyay has a -4.9% average return when recommending MGNX, and is ranked #2832 out of 3313 analysts.