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MGNX

MacroGenics

$11.04

-0.34 (-2.99%)

08:49
10/23/19
10/23
08:49
10/23/19
08:49

MacroGenics price target lowered to $18 from $26 at SVB Leerink

SVB Leerink analyst Jonathan Chang lowered his price target for $18 from $26 after the company announced data from the second interim overall survival analysis of the Phase III SOPHIA study of margetuximab in HER2+ metastatic breast cancer. While the analyst does not have the complete picture based on the top-line data disclosed in the press release, he is conservatively lowering his estimates based on his concern that any improvement in the data may only be incremental and in the context of a highly competitive and evolving breast cancer landscape. Chang reiterates an Outperform rating on the shares.

  • 06

    Nov

MGNX MacroGenics
$11.04

-0.34 (-2.99%)

06/04/19
STFL
06/04/19
NO CHANGE
STFL
Stifel 'gut reaction' to margetuximab data aligns with 19% selloff
Stifel analyst Stephen Willey says his "gut reaction" to today's more-detailed Sophia data appears to align with how the stock is trading post this morning's presentation. Shares of MacroGenics are down 19%, or $3.55, to $15.17 in midday trading. The analyst found the overall survival data of margetuximab the most disappointing. He had hoped the large absolute median OS benefit in low-affinity CD16A-158 patients favoring margetuximab would offset some of the concern around the clinical relevance of the progression free survival benefit. Unfortunately, however, this benefit appears to be less compelling when viewed in the context of the full Kaplan-Meier curve, Willey tells investors in a research note titled "First Take on SOPHIA Data Presentation - Don't Expect OS to Pick Up the PFS Slack." The analyst continues to believe the Sophia data represents an approvable data set, but he admits the addressable market opportunity is "likely now amplified following today's presentation." The continued perception of margetuximab as an overhang could serve to keep near-term enthusiasm in MacroGenics shares "muted," says Willey. He keeps a Buy rating on the shares.
06/05/19
STFL
06/05/19
NO CHANGE
Target $29
STFL
Buy
MacroGenics price target lowered to $29 from $36 at Stifel
Stephen analyst Kevin Willey lowered his price target for MacroGenics to $29 from $36, saying he expects maturing overall survival data from Sophia to command "meaningful" regulatory and commercial importance given what is likely to remain perceived to be a progression free survival benefit of uncertain clinical relevance. Willey tells investors in a research note that he is now less optimistic directionally-supportive OS data will manifest over time in the intent-to-treat patient population and has "minimal" confidence the early numerical OS separation favoring margetuximab in CD16A-158F patients will prove durable. He maintains a Buy rating.
07/18/19
HCWC
07/18/19
NO CHANGE
Target $39
HCWC
Buy
H.C. Wainwright sees 'nothing sinister' with MacroGenics regaining drug rights
H.C. Wainwright analyst Debjit Chattopadhyay sees nothing "inherently sinister" with flotetuzumab after MacroGenics regained the full rights to the drug. After speaking with management, the analyst says that ex-partner Servier was not been particularly engaged during the development process and that to date, MacroGenics has been funding both the U.S. and European studies. Further, flotetuzumab's emerging clinical profile remains consistent with what was presented at ASH 2018, and an updated presentation on the fully enrolled dose expansion cohort is expected at ASH 2019, Chattopadhyay tells investors in a research note. He keeps a Buy rating on MacroGenics shares with a $39 price target.
10/23/19
WEDB
10/23/19
NO CHANGE
Target $14
WEDB
Outperform
MacroGenics price target lowered to $14 from $23 at Wedbush
Wedbush analyst David Nierengarten lowered his price target for MacroGenics to $14 from $23 following a worse-than-expected readout of the second interim OS analysis, prompted at 270 events, from the pivotal Phase 3 SOPHIA trial evaluating margetuximab and chemo against trastuzumab and chemo in patients with 3/4L HER2+ metastatic breast cancer. The analyst believes that "perhaps the most concerning read from the update" is the deterioration of margetuximab's relative benefit over trastuzumab in the CD16A 158F allele population, which saw a relative OS benefit of 6.7 months at the first interim analysis drop to 4.3 months at the second, largely due to better-than-expected survival in the trastuzumab arm. Nierengarten has an Outperform rating on the shares.

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