Oppenheimer Maintains Outperform On MacroGenics In Light Of Second Collaboration With Takeda

In a research report issued today, Oppenheimer analyst Christopher Marai maintained an Outperform rating on MacroGenics (NASDAQ:MGNX) with a $48 price target, as the company entered into a second collaboration with Takeda covering four additional DART candidates. This is in addition to its ongoing MGD010 a pre-clinical stage DART targeting CD32b and CD79b for autoimmune disease.

Marai noted, “We believe that Takeda’s expansion of the collaboration is indicative of Takeda’s confidence in the bispecific DART platform and manufacturability of these constructs.” The analyst added, “Bispecifics may have utility as immuno-oncology agents beyond T-cell redirecting. Researchers we speak to are working to develop bispecific antibodies capable of delivering immuno-modulating agents (i.e. anti-PD1) to targeted tumor sites (i.e. anti-PD1xtumor-antigen). In this way potent immunomodulating therapies are directed to where needed potentially offering reduced systemic toxicities and enhanced efficacy.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Christopher Marai has a total average return of 13.4% and a 57.1% success rate. Marai is ranked #657 out of 3315 analysts.

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