In a report released today, Debjit Chattopadhyay from H.C. Wainwright maintained a Buy rating on MacroGenics (NASDAQ: MGNX), with a price target of $34. The company’s shares closed yesterday at $19.60.
Chattopadhyay wrote:
“Our 12-month, $34 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 1.72, 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. (19%), flotetuzumab (17%) together represent about 99% of our target.”
According to TipRanks.com, Chattopadhyay is a 1-star analyst with an average return of -0.1% and a 43.5% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Voyager Therapeutics Inc, and Mersana Therapeutics Inc.
Currently, the analyst consensus on MacroGenics is a Moderate Buy with an average price target of $30.
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The company has a one-year high of $32.74 and a one-year low of $15.33. Currently, MacroGenics has an average volume of 272.9K.
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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.