Citizens JMP Reiterates Market Outperform Rating on MacroGenics (MGNX)

Citizens JMP analyst Silvan Tuerkcan reiterated a Market Outperform rating on MacroGenics (NASDAQ: MGNX).

The analyst commented, “We remain on the sidelines given: 1) The relatively early stage of follow-on B7- H3 ADC MGC026 and other ADC programs. 2) A lack of data on lorigerlimab in mCRPC. We expect an update from lorigerlimab (now in 2H25), which should be the major catalyst for MGNX near term, and meaningful ORR and especially rPFS results could point to an opportunity in mCRPC. The Ph2 is using the appropriate chemo comparator arm, but we remain cautious regarding the opportunity absent data. Lastly, GILD could make an opt-in decision in 2025 (Citizens est.), which could be an immediate value driver. ○ MGNX FY opex was $260M, with a year-end cash balance of $202M, which should continue to provide a runway into 2H26.”

For an analyst ratings summary and ratings history on MacroGenics click here. For more ratings news on MacroGenics click here.

Shares of MacroGenics closed at $2.10 yesterday.

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