H.C. Wainwright Reiterates a Buy Rating on MacroGenics (MGNX)

In a report released today, Debjit Chattopadhyay from H.C. Wainwright reiterated a Buy rating on MacroGenics (MGNX), with a price target of $40.00. The company’s shares closed last Thursday at $26.75.

According to TipRanks.com, Chattopadhyay is a 5-star analyst with an average return of 14.9% and a 49.3% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Allogene Therapeutics, and Molecular Partners AG.

MacroGenics has an analyst consensus of Strong Buy, with a price target consensus of $31.40, implying a 21.7% upside from current levels. In a report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $38.00 price target.

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Based on MacroGenics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $13.68 million and GAAP net loss of $44.72 million. In comparison, last year the company earned revenue of $9.66 million and had a GAAP net loss of $45.02 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. Its product pipeline includes Margetuximab, Flotetuzumab, Enoblituzumab, MGA012, MGD013, MGD019, MGD009, MGC018, and MGD007 for oncology; and MGD014 for infectious diseases. The company was founded by Scott E. Koenig, Jeffrey V. Ravetch, LeRoy E. Hood, Ruedi Aebersold, and Alan Aderem on August 14, 2000 and is headquartered in Rockville, MD.

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