Analyst Jonathan Chang of Leerink Partners reiterated a Buy rating on MacroGenics (MGNX – Research Report), retaining the price target of $8.00.
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Jonathan Chang has given his Buy rating due to a combination of factors that highlight MacroGenics’ strategic focus and promising pipeline developments. The company has made a strategic decision to discontinue its vobra duo program, allowing it to reallocate resources to more promising initiatives, such as the second B7-H3 ADC program, MGC026. This program is seen as having significant potential to address a wide range of B7-H3-expressing tumors, which could enhance the company’s market position.
Additionally, MacroGenics is advancing its broader pipeline, including the progress of lorigerlimab in Phase II studies for challenging cancer types. The company’s financial position is stable, with a cash runway extending into the second half of 2026, which supports ongoing and future developments. Upcoming milestones, such as dose expansion studies and clinical updates, are expected to act as catalysts for the stock, reinforcing the positive outlook and justifying the Buy rating.
According to TipRanks, Chang is an analyst with an average return of -13.0% and a 28.10% success rate. Chang covers the Healthcare sector, focusing on stocks such as Zai Lab, Nanobiotix, and Xencor.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $3.00 price target.
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