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MacroGenics Rose 130.42% on February 6

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Aug. 18 2020, Updated 4:18 a.m. ET

Share price movements

On February 6, MacroGenics (MGNX) closed at $25.60, which is 130.42% higher than the previous closing price, 159.37% higher than its 52-week low of $9.87, and 21.81% below its 52-week high of $32.74. The market capitalization was $1.06 billion, while its price-to-sales, price-to-book value, and price-to-cash ratios were 5.38x, 3.83x, and 4.07x, respectively.

MacroGenics stock almost tripled on February 3 due to the company’s press release announcing positive results from the Phase 3 trial, SOPHIA. The trial is evaluating an investigational therapy, Margetuximab, in combination with chemotherapy as a third or fourth-line therapy in HER2-positive metastatic breast cancer indication. According to MacroGenics’ investor presentation, the company plans to file a biologics license application for Margetuximab in 2019. MacroGenics has collaborated with Zai Lab and GC Pharma to develop and commercialize Margetuximab in HER2-positive metastatic breast cancer indication.

Currently, Margetuximab is also being studied in combination with a PD-1 inhibitor in gastric cancer indication in an ongoing Phase 2 trial.

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Analysts’ recommendations and target price

Analysts’ 12-month consensus recommendation for MacroGenics is a “buy.”

Among the 12 analysts covering MacroGenics, three recommended a “strong buy,” five recommended a “buy,” three recommended a “hold,” and one recommended a “sell.” The 12-month target price for MacroGenics is $31.64, which is 18.28% higher than its last closing price on February 6. The highest target price estimate is $86, while the lowest target price estimate is $70.

Revenue projections 

Analysts expect MacroGenics’ revenues to fall 93.00% YoY to $10.67 million in the fourth quarter and rise 52.35% YoY to $7.15 million in the first quarter of 2019. Analysts expect MacroGenics’ revenues to fall 64.02% YoY to $56.76 million in fiscal 2018. Analysts expect the company’s revenues to rise 9.19% YoY to $61.98 million in fiscal 2019 and 6.04% YoY to $65.72 million in fiscal 2020.

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