H.C. Wainwright Reaffirms Their Buy Rating on MacroGenics (MGNX)


In a report released today, Debjit Chattopadhyay from H.C. Wainwright maintained a Buy rating on MacroGenics (MGNX), with a price target of $39. The company’s shares opened today at $15.58.

Chattopadhyay noted:

“Our 12-month, $39 price target for shares of MacroGenics is based on a 12-year DCF-driven sum-of-the-parts analysis. Our DCF is driven by: beta of 1.8, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 11.5%, and tax rate of 15% beginning in FY 2027. (18%), flotetuzumab (16%) together represent our full target. Risks potentially incurred investing in this stock include: clinical and development, financial, regulatory and reimbursement, and commercial.”

According to TipRanks.com, Chattopadhyay is a 1-star analyst with an average return of -0.7% and a 42.9% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Voyager Therapeutics Inc, and Mersana Therapeutics Inc.

MacroGenics has an analyst consensus of Moderate Buy, with a price target consensus of $35.14, a 125.5% upside from current levels. In a report issued on April 17, Credit Suisse also initiated coverage with a Buy rating on the stock with a $29 price target.

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The company has a one-year high of $26.39 and a one-year low of $9.87. Currently, MacroGenics has an average volume of 1.09M.

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MacroGenics, Inc. is a clinical-stage biopharmaceutical company, which engages in discovering and developing antibody-based therapeutics designed to modulate the human immune response for the treatment of cancer. 2.

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