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MacroGenics (NASDAQ:MGNX) stock rating was reiterated as Market Perform by Citizens JMP analysts on Wednesday. The firm maintained its stance on the biotech company following a recent royalty agreement. According to InvestingPro data, the company’s stock has shown significant momentum with an 18.67% return over the past week, though its beta of 1.63 indicates higher volatility than the broader market.
MacroGenics entered into a royalty purchase agreement with Sagard Healthcare Partners, exchanging a capped royalty interest on Zynyz for $70 million upfront. This non-dilutive financing adds to the company’s first quarter 2025 cash position of $154.1 million. InvestingPro analysis shows the company maintains a healthy current ratio of 3.28, with liquid assets exceeding short-term obligations. Subscribers can access 10+ additional ProTips and comprehensive financial metrics in the Pro Research Report.
The combined funds should support MacroGenics’ operations through the first half of 2027, according to Citizens JMP. The analysts are waiting for lorigerlimab clinical data and pipeline updates to provide more clarity on the company’s future direction. With a market capitalization of $112.3 million and its next earnings report due on August 12, 2025, investors should note that InvestingPro data indicates the company is currently burning through cash rapidly.
Citizens JMP noted that MacroGenics shares are currently trading at approximately 50% discount to their second quarter 2025 pro-forma net cash estimate of $182 million. The analysts view this as a fair discount that is consistent with other biotech companies facing similar uncertainties.
The firm’s decision to maintain a Market Perform rating comes as they continue to evaluate MacroGenics’ position ahead of upcoming clinical data that could influence the company’s trajectory.
In other recent news, MacroGenics has entered into a significant royalty purchase agreement with Sagard Healthcare Partners for its cancer drug ZYNYZ. This deal provides MacroGenics with an upfront cash payment of $70 million, which is expected to extend the company’s cash runway until the first half of 2027. The agreement allows Sagard to receive royalty payments until they reach $140 million, after which MacroGenics will resume collecting all future royalties. The financial boost from this agreement is part of MacroGenics’ strategy to ensure financial stability while continuing to develop its pipeline of cancer therapies.
In analyst updates, Stifel has reduced its price target for MacroGenics from $6.00 to $5.00, maintaining a Hold rating, while H.C. Wainwright lowered its target from $4 to $2, keeping a Neutral rating. These adjustments follow the company’s decision to halt the development of its drug candidate vobra duo after Phase 2 trial results. Despite this, MacroGenics continues to advance its clinical programs, including the Phase 1 trial for MGC026, which shows potential for greater potency and improved safety. The ongoing developments and strategic financial agreements are key factors shaping the investment outlook for MacroGenics.
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