JMP Securities analyst Silvan Tuerkcan has maintained their neutral stance on MGNX stock, giving a Hold rating yesterday.
Silvan Tuerkcan has given his Hold rating due to a combination of factors surrounding MacroGenics’ current position and future prospects. The company has recently halted the development of vobra duo following a new progression-free survival analysis, which adds uncertainty to its pipeline. Additionally, while there are expected updates on lorigerlimab and follow-on ADCs, the lack of current data and clarity on these programs contributes to the cautious stance.
Furthermore, MacroGenics’ shares are trading at approximately 70% of its ending 4Q24 cash minus debt, which is considered a fair discount in line with other biotech companies. The early stage of the B7-H3 ADC MGC026 and other ADC programs, combined with the absence of data on lorigerlimab in metastatic castration-resistant prostate cancer (mCRPC), also play a role in the Hold rating. The anticipated updates in 2025, including potential decisions by Gilead Sciences, may serve as catalysts, but until then, the uncertainty remains.
According to TipRanks, Tuerkcan is an analyst with an average return of -2.0% and a 34.04% success rate. Tuerkcan covers the Healthcare sector, focusing on stocks such as Solid Biosciences, Exelixis, and Jasper Therapeutics.
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