In a report issued on July 18, Debjit Chattopadhyay from H.C. Wainwright maintained a Buy rating on MacroGenics (MGNX), with a price target of $39. The company’s shares closed yesterday at $14.49.
Chattopadhyay noted:
“We believe these observations coupled with preclinical data highlighting synergies of combining flotetuzumab with an anti-PD-1 mAb, is expected to be underway over the next few weeks. For definitions and the distribution of analyst ratings, analyst certifications, and other disclosures, please refer to pages 3 – 4 of this report.Valuation. 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 3-star analyst with an average return of 1.4% and a 46.5% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Precision BioSciences Inc, and Voyager Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MacroGenics with a $28.40 average price target, representing a 96.0% upside. In a report issued on July 17, Cowen & Co. also maintained a Buy rating on the stock.
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Based on MacroGenics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $45.02 million. In comparison, last year the company had a GAAP net loss of $43.24 million.
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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.
