TD Cowen analyst Tara Bancroft has maintained their neutral stance on MGNX stock, giving a Hold rating today.
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Tara Bancroft’s rating is based on several strategic and developmental factors surrounding MacroGenics. The company is undergoing a CEO transition, which is expected to bring a renewed focus on capital efficiency through current and future partnerships. This leadership change could influence the company’s strategic direction and operational efficiency, impacting its stock performance.
Additionally, the future of lorigerlimab, one of MacroGenics’ key drugs, is contingent upon the results of the Phase II LORIKEET trial. The trial’s success, particularly achieving an 8+ month rPFS, is crucial for determining the drug’s development path. Although the company is exploring potential in gynecological cancers, historical success rates for checkpoint inhibitors in these areas have been low. Despite these challenges, there is optimism around lorigerlimab’s potential efficacy, which supports a Hold rating as investors await more definitive data from ongoing trials.
According to TipRanks, Bancroft is a 3-star analyst with an average return of 1.7% and a 44.52% success rate. Bancroft covers the Healthcare sector, focusing on stocks such as Urogen Pharma, Merus, and Lantheus.
In another report released today, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $1.50 price target.