Buy Rating Affirmed for MacroGenics on Strong Oncology Pipeline and Positive Phase II Trial Results

Mayank Mamtani, an analyst from B.Riley Financial, has initiated a new Buy rating on MacroGenics (MGNX).

Mayank Mamtani has given his Buy rating due to a combination of factors related to MacroGenics’s promising position in the oncology therapeutics market. His confidence stems from MacroGenics’s advanced candidate, vobra duo, which has shown significant de-risking in ongoing Phase II trials for various cancers, including the over-enrolled TAMARACK study for prostate cancer. Mamtani appreciates the company’s strategic focus on antibody-drug conjugates, T cell engagers, and bispecifics, targeting highly relevant molecules like B7-H3, which are considered biologically de-risked. Moreover, the disclosed safety data has been encouraging, leading to a higher prioritization of dosage levels in treatments across multiple solid tumor types, which further underpins the Buy rating.

Mamtani also notes the potential of MacroGenics’s B7-H3 targeting ADC franchise to carve out a significant place in the expanding market for metastatic castration-resistant prostate cancer treatments, outside of current AR and PSMA-targeted therapies. The company’s portfolio, which includes approved medicines and early-stage candidates, not only leverages MacroGenics’s integrated R&D and manufacturing capabilities but also provides a steady stream of non-dilutive funding through partnerships. With the imminent release of Phase II efficacy data, Mamtani anticipates increased visibility into the drug’s potential, particularly its durable response rates in taxane-experienced and -naive cohorts, which could lead to a revaluation of the company’s stock.

According to TipRanks, Mamtani is an analyst with an average return of -22.1% and a 22.36% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Denali Therapeutics, Cytokinetics, and Altimmune.

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MacroGenics (MGNX) Company Description:

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.