H.C. Wainwright analyst Debjit Chattopadhyay maintained a Buy rating on MacroGenics (MGNX) today and set a price target of $39. The company’s shares closed yesterday at $21.13.
Chattopadhyay said:
“Our 12-month, $39 price target for shares of MacroGenics is based on a 13-year DCF-driven sum-of-the-parts analysis. Our DCF is driven by: beta of 1.55, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 10.5%, 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 3-star analyst with an average return of 1.8% and a 49.0% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Voyager Therapeutics Inc, and Autolus Therapeutics Plc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MacroGenics with a $36 average price target, implying a 70.4% upside from current levels. In a report released yesterday, 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 $9.87. Currently, MacroGenics has an average volume of 1.26M.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MGNX in relation to earlier this year. Last month, Eric Blasius Risser, the Sr VP & Chief Business Officer of MGNX bought 6,000 shares for a total of $5,640.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
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