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Macrogenics Inc. (NASDAQ:MGNX) stock has reached a new 52-week low, trading at $1.88, as the biopharmaceutical company faces a tumultuous period marked by investor concerns and broader market headwinds. With a market capitalization of $122 million and a beta of 2.11, the company maintains a strong liquidity position with a current ratio of 3.92, according to InvestingPro data. This latest price level reflects a significant downturn from previous valuations, with the stock experiencing a staggering 1-year change of -86.22%. The sharp decline in Macrogenics’ stock price over the past year highlights the volatility and challenges within the biotech sector, as well as the company’s specific hurdles in advancing its drug pipeline and securing sustained investor confidence. Despite the decline, InvestingPro analysis suggests the stock may be undervalued, with analyst price targets ranging from $4 to $8. Discover 12 additional key insights about MGNX and access the comprehensive Pro Research Report, available exclusively with an InvestingPro subscription.
In other recent news, MacroGenics reported its fourth-quarter 2024 earnings, revealing a better-than-expected loss per share of -0.07, surpassing analysts’ projections of -0.40. The company also achieved a significant revenue increase, with quarterly revenue reaching $49.4 million, well above the anticipated $29.19 million. This financial performance marked a robust year for MacroGenics, with total annual revenue hitting $150 million, up from $58.7 million in 2023, primarily driven by collaborative agreements. Despite this, the company reported a net loss of $67 million for the year, attributed to rising research and development expenses.
In other developments, MacroGenics decided to halt the development of its drug candidate vobra duo following Phase 2 trial data, leading H.C. Wainwright to cut its stock price target to $2 while maintaining a Neutral rating. Stifel, on the other hand, maintained a Hold rating with a $6 price target, focusing on the potential impact of upcoming clinical trial results for MacroGenics’ drug lorigerlimab. Citizens JMP reiterated a Market Outperform rating, noting the company’s cash reserves of $202 million should support operations into the second half of 2026. Looking ahead, MacroGenics anticipates updates on its drug lorigerlimab and other ADC programs, which analysts believe could be significant catalysts for the company’s stock in 2025.
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