MacroGenics Margenza rights sale a positive, says Leerink

Leerink keeps an Outperform rating on MacroGenics (MGNX) with an $8 price target following the Q3 report. The company recently announced it had sold global rights of Margenza to TerSera Therapeutics for $40M upfront and up to $35M in aggregate sales milestones, the analyst tells investors in a research note. The firm views the deal positively, saying it provides non-dilutive financing and will allow MacroGenics to focus on its pipeline efforts.