MGNX - MacroGenics: Q4 PDUFA Target Action Date 2021 Expected Revenue Growth Of 116% And $281M In Cash Make It A Buy
- MacroGenics is a clinical-stage biopharmaceutical company focused on developing antibody-based therapeutics for immune-response modulation for treating cancer.
- MacroGenics's pipeline consists of 7 therapeutics with all 7 in clinical phases covering various cancers with Margetuximab, the lead candidate, filing for approval (PDUFA) date Dec. 18th, 2020.
- MacroGenics's financials are solid with $281M in cash and partnership support (funding through to 2023) alongside revenues anticipated to grow +9.5% in 2020 to $70M and 2021 to $152M (+116.9%).
- MacroGenics's key short-term catalyst is Margetuximab's Breast Cancer PDUFA target date, set for Dec 18th, 2020.
- In summary, the author projects MacroGenics, Inc. as a "buy" at a 1.5-year price target of $36.55 (+64% upside).
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MacroGenics: Q4 PDUFA Target Action Date, 2021 Expected Revenue Growth Of 116%, And $281M In Cash Make It A Buy