H.C. Wainwright analyst Debjit Chattopadhyay maintained a Buy rating on MacroGenics (MGNX) today and set a price target of $34. The company’s shares closed on Friday at $17.36, close to its 52-week low of $15.48.
Chattopadhyay wrote:
“We estimate about 11K patients in the developed markets seek third-line treatment, which implies peak sales in excess of $400M for this unencumbered asset. Given the limited Phase 1 data, we assign a below average POS of 45% for this Phase 3 asset.”
According to TipRanks.com, Chattopadhyay ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.1% and a 36.6% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Mersana Therapeutics Inc, and Voyager Therapeutics Inc.
MacroGenics has an analyst consensus of Strong Buy, with a price target consensus of $32, an 84.3% upside from current levels. In a report issued on November 8, Cowen & Co. also maintained a Buy rating on the stock.
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The company has a one-year high of $32.74 and a one-year low of $15.48. Currently, MacroGenics has an average volume of 267.5K.
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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. Its portfolio includes Margetuximab, Flotetuzumab, MGA012, MGD013, Enoblituzumab, MGD009, and Teplizumab.
