JMP Securities Thinks MacroGenics’ Stock is Going to Recover

Stock Market

JMP Securities analyst Silvan Tuerkcan initiated coverage with a Buy rating on MacroGenics (MGNXResearch Report) today and set a price target of $39.00. The company’s shares closed last Monday at $19.74, close to its 52-week low of $18.16.

According to TipRanks.com, Tuerkcan is a 5-star analyst with an average return of 44.7% and a 51.0% success rate. Tuerkcan covers the Healthcare sector, focusing on stocks such as Turning Point Therapeutics, Crispr Therapeutics AG, and Intellia Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for MacroGenics with a $43.50 average price target, implying a 120.3% upside from current levels. In a report issued on October 14, BTIG also initiated coverage with a Buy rating on the stock with a $50.00 price target.

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The company has a one-year high of $36.48 and a one-year low of $18.16. Currently, MacroGenics has an average volume of 629.6K.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MGNX in relation to earlier this year.

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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.

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