Intrinsic value of Macrogenics - MGNX

Previous Close

$17.48

  Intrinsic Value

$574.72

stock screener

  Rating & Target

str. buy

+999%

Previous close

$17.48

 
Intrinsic value

$574.72

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of MGNX stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  252
  390
  583
  846
  1,194
  1,641
  2,203
  2,893
  3,722
  4,701
  5,838
  7,137
  8,603
  10,236
  12,035
  14,000
  16,127
  18,412
  20,853
  23,445
  26,185
  29,070
  32,098
  35,267
  38,578
  42,030
  45,625
  49,366
  53,255
  57,297
Variable operating expenses, $m
  107
  165
  247
  359
  506
  696
  934
  1,226
  1,578
  1,993
  2,475
  3,026
  3,648
  4,340
  5,103
  5,936
  6,838
  7,807
  8,842
  9,941
  11,102
  12,326
  13,610
  14,953
  16,357
  17,821
  19,345
  20,931
  22,580
  24,294
Fixed operating expenses, $m
  118
  120
  123
  125
  128
  131
  134
  137
  140
  143
  146
  149
  153
  156
  159
  163
  166
  170
  174
  178
  182
  186
  190
  194
  198
  202
  207
  212
  216
  221
Total operating expenses, $m
  225
  285
  370
  484
  634
  827
  1,068
  1,363
  1,718
  2,136
  2,621
  3,175
  3,801
  4,496
  5,262
  6,099
  7,004
  7,977
  9,016
  10,119
  11,284
  12,512
  13,800
  15,147
  16,555
  18,023
  19,552
  21,143
  22,796
  24,515
Operating income, $m
  28
  104
  213
  362
  559
  814
  1,135
  1,529
  2,004
  2,565
  3,216
  3,962
  4,803
  5,740
  6,773
  7,901
  9,123
  10,435
  11,837
  13,327
  14,901
  16,559
  18,299
  20,120
  22,023
  24,007
  26,073
  28,223
  30,459
  32,782
EBITDA, $m
  39
  121
  238
  398
  611
  885
  1,230
  1,654
  2,164
  2,767
  3,468
  4,269
  5,173
  6,180
  7,290
  8,503
  9,816
  11,227
  12,734
  14,335
  16,027
  17,809
  19,679
  21,637
  23,682
  25,814
  28,035
  30,346
  32,749
  35,246
Interest expense (income), $m
  0
  0
  2
  6
  11
  18
  26
  38
  52
  70
  91
  116
  145
  178
  216
  257
  303
  353
  408
  466
  528
  594
  664
  738
  815
  896
  981
  1,069
  1,160
  1,256
  1,355
Earnings before tax, $m
  28
  102
  207
  351
  542
  788
  1,097
  1,477
  1,934
  2,474
  3,101
  3,817
  4,625
  5,524
  6,516
  7,598
  8,769
  10,028
  11,372
  12,798
  14,307
  15,894
  17,561
  19,305
  21,127
  23,026
  25,005
  27,063
  29,203
  31,427
Tax expense, $m
  8
  28
  56
  95
  146
  213
  296
  399
  522
  668
  837
  1,031
  1,249
  1,492
  1,759
  2,051
  2,368
  2,708
  3,070
  3,456
  3,863
  4,291
  4,741
  5,212
  5,704
  6,217
  6,751
  7,307
  7,885
  8,485
Net income, $m
  20
  75
  151
  256
  396
  575
  801
  1,078
  1,412
  1,806
  2,263
  2,786
  3,376
  4,033
  4,757
  5,547
  6,402
  7,320
  8,301
  9,343
  10,444
  11,603
  12,819
  14,093
  15,423
  16,809
  18,253
  19,756
  21,318
  22,942

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  189
  293
  437
  635
  896
  1,231
  1,653
  2,170
  2,792
  3,527
  4,379
  5,354
  6,454
  7,679
  9,029
  10,503
  12,098
  13,813
  15,644
  17,588
  19,644
  21,808
  24,079
  26,457
  28,941
  31,531
  34,227
  37,034
  39,951
  42,984
Adjusted assets (=assets-cash), $m
  189
  293
  437
  635
  896
  1,231
  1,653
  2,170
  2,792
  3,527
  4,379
  5,354
  6,454
  7,679
  9,029
  10,503
  12,098
  13,813
  15,644
  17,588
  19,644
  21,808
  24,079
  26,457
  28,941
  31,531
  34,227
  37,034
  39,951
  42,984
Revenue / Adjusted assets
  1.333
  1.331
  1.334
  1.332
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
  1.333
Average production assets, $m
  54
  84
  125
  182
  257
  353
  474
  622
  800
  1,011
  1,255
  1,535
  1,850
  2,201
  2,588
  3,010
  3,467
  3,959
  4,483
  5,041
  5,630
  6,250
  6,901
  7,582
  8,294
  9,036
  9,809
  10,614
  11,450
  12,319
Working capital, $m
  -52
  -80
  -120
  -174
  -246
  -338
  -454
  -596
  -767
  -968
  -1,203
  -1,470
  -1,772
  -2,109
  -2,479
  -2,884
  -3,322
  -3,793
  -4,296
  -4,830
  -5,394
  -5,988
  -6,612
  -7,265
  -7,947
  -8,658
  -9,399
  -10,169
  -10,971
  -11,803
Total debt, $m
  45
  110
  201
  325
  490
  701
  966
  1,292
  1,684
  2,147
  2,684
  3,299
  3,991
  4,763
  5,613
  6,542
  7,547
  8,627
  9,781
  11,006
  12,301
  13,664
  15,095
  16,593
  18,158
  19,790
  21,489
  23,256
  25,095
  27,005
Total liabilities, $m
  119
  184
  276
  400
  564
  776
  1,041
  1,367
  1,759
  2,222
  2,759
  3,373
  4,066
  4,838
  5,688
  6,617
  7,622
  8,702
  9,855
  11,080
  12,375
  13,739
  15,170
  16,668
  18,233
  19,864
  21,563
  23,331
  25,169
  27,080
Total equity, $m
  70
  108
  162
  235
  331
  456
  611
  803
  1,033
  1,305
  1,620
  1,981
  2,388
  2,841
  3,341
  3,886
  4,476
  5,111
  5,788
  6,508
  7,268
  8,069
  8,909
  9,789
  10,708
  11,666
  12,664
  13,702
  14,782
  15,904
Total liabilities and equity, $m
  189
  292
  438
  635
  895
  1,232
  1,652
  2,170
  2,792
  3,527
  4,379
  5,354
  6,454
  7,679
  9,029
  10,503
  12,098
  13,813
  15,643
  17,588
  19,643
  21,808
  24,079
  26,457
  28,941
  31,530
  34,227
  37,033
  39,951
  42,984
Debt-to-equity ratio
  0.640
  1.010
  1.240
  1.380
  1.480
  1.540
  1.580
  1.610
  1.630
  1.650
  1.660
  1.670
  1.670
  1.680
  1.680
  1.680
  1.690
  1.690
  1.690
  1.690
  1.690
  1.690
  1.690
  1.700
  1.700
  1.700
  1.700
  1.700
  1.700
  1.700
Adjusted equity ratio
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  20
  75
  151
  256
  396
  575
  801
  1,078
  1,412
  1,806
  2,263
  2,786
  3,376
  4,033
  4,757
  5,547
  6,402
  7,320
  8,301
  9,343
  10,444
  11,603
  12,819
  14,093
  15,423
  16,809
  18,253
  19,756
  21,318
  22,942
Depreciation, amort., depletion, $m
  11
  17
  25
  36
  51
  71
  95
  124
  160
  202
  251
  307
  370
  440
  518
  602
  693
  792
  897
  1,008
  1,126
  1,250
  1,380
  1,516
  1,659
  1,807
  1,962
  2,123
  2,290
  2,464
Funds from operations, $m
  31
  91
  176
  293
  447
  646
  896
  1,203
  1,572
  2,008
  2,514
  3,093
  3,746
  4,473
  5,274
  6,149
  7,095
  8,112
  9,198
  10,351
  11,570
  12,853
  14,200
  15,609
  17,081
  18,617
  20,215
  21,879
  23,608
  25,406
Change in working capital, $m
  -19
  -28
  -40
  -54
  -72
  -92
  -116
  -142
  -171
  -202
  -234
  -268
  -302
  -336
  -371
  -405
  -438
  -471
  -503
  -534
  -564
  -594
  -624
  -653
  -682
  -711
  -741
  -771
  -801
  -833
Cash from operations, $m
  51
  120
  216
  347
  518
  738
  1,011
  1,345
  1,743
  2,210
  2,749
  3,361
  4,048
  4,809
  5,645
  6,553
  7,533
  8,583
  9,701
  10,885
  12,134
  13,447
  14,823
  16,262
  17,763
  19,328
  20,956
  22,649
  24,409
  26,238
Maintenance CAPEX, $m
  -7
  -11
  -17
  -25
  -36
  -51
  -71
  -95
  -124
  -160
  -202
  -251
  -307
  -370
  -440
  -518
  -602
  -693
  -792
  -897
  -1,008
  -1,126
  -1,250
  -1,380
  -1,516
  -1,659
  -1,807
  -1,962
  -2,123
  -2,290
New CAPEX, $m
  -20
  -30
  -42
  -57
  -75
  -96
  -121
  -148
  -178
  -211
  -244
  -279
  -315
  -351
  -387
  -422
  -457
  -491
  -525
  -557
  -589
  -620
  -651
  -681
  -712
  -742
  -773
  -804
  -836
  -869
Cash from investing activities, $m
  -27
  -41
  -59
  -82
  -111
  -147
  -192
  -243
  -302
  -371
  -446
  -530
  -622
  -721
  -827
  -940
  -1,059
  -1,184
  -1,317
  -1,454
  -1,597
  -1,746
  -1,901
  -2,061
  -2,228
  -2,401
  -2,580
  -2,766
  -2,959
  -3,159
Free cash flow, $m
  24
  79
  158
  265
  407
  590
  820
  1,102
  1,440
  1,839
  2,302
  2,830
  3,426
  4,088
  4,818
  5,613
  6,474
  7,398
  8,384
  9,431
  10,537
  11,701
  12,922
  14,200
  15,535
  16,927
  18,376
  19,883
  21,450
  23,079
Issuance/(repayment) of debt, $m
  45
  65
  91
  124
  164
  211
  265
  326
  392
  463
  537
  614
  693
  772
  851
  929
  1,005
  1,080
  1,153
  1,225
  1,295
  1,364
  1,431
  1,498
  1,565
  1,632
  1,699
  1,768
  1,838
  1,910
Issuance/(repurchase) of shares, $m
  6
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  51
  65
  91
  124
  164
  211
  265
  326
  392
  463
  537
  614
  693
  772
  851
  929
  1,005
  1,080
  1,153
  1,225
  1,295
  1,364
  1,431
  1,498
  1,565
  1,632
  1,699
  1,768
  1,838
  1,910
Total cash flow (excl. dividends), $m
  74
  144
  249
  389
  572
  802
  1,085
  1,428
  1,832
  2,302
  2,839
  3,445
  4,118
  4,860
  5,668
  6,542
  7,479
  8,478
  9,538
  10,656
  11,832
  13,065
  14,353
  15,698
  17,100
  18,558
  20,075
  21,651
  23,288
  24,990
Retained Cash Flow (-), $m
  -26
  -38
  -54
  -73
  -96
  -124
  -156
  -191
  -230
  -272
  -315
  -361
  -407
  -453
  -500
  -545
  -590
  -634
  -677
  -719
  -761
  -801
  -840
  -880
  -919
  -958
  -998
  -1,038
  -1,080
  -1,122
Prev. year cash balance distribution, $m
  255
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  303
  106
  196
  317
  475
  678
  930
  1,236
  1,602
  2,030
  2,524
  3,084
  3,712
  4,407
  5,169
  5,997
  6,889
  7,844
  8,860
  9,937
  11,071
  12,264
  13,513
  14,819
  16,181
  17,600
  19,077
  20,613
  22,209
  23,868
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  291
  97
  170
  261
  368
  492
  628
  773
  920
  1,064
  1,198
  1,316
  1,411
  1,479
  1,517
  1,524
  1,499
  1,445
  1,364
  1,263
  1,145
  1,018
  886
  755
  629
  513
  409
  319
  242
  180
Current shareholders' claim on cash, %
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9

MacroGenics, Inc. is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies. It has a pipeline of product candidates in human clinical testing, primarily as treatments for different types of cancers, which are created using its technology platforms. Its clinical product candidate, margetuximab, has been enhanced using its Fc Optimization platform. The Company is also developing several product candidates targeting B7-H3, a protein in the B7 family of immune regulator proteins. The Company's product candidates also include enoblituzumab and MGD009, MGC018, MGD006 (flotetuzumab), MGD007, MGD011 (duvortuxizumab), PF-06671008 and MGD010.

FINANCIAL RATIOS  of  Macrogenics (MGNX)

Valuation Ratios
P/E Ratio -10.3
Price to Sales 6.6
Price to Book 2.3
Price to Tangible Book
Price to Cash Flow -13.9
Price to Free Cash Flow -11.1
Growth Rates
Sales Growth Rate -8.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 22.2%
Cap. Spend. - 3 Yr. Gr. Rate 29.7%
Financial Strength
Quick Ratio 139
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0.7%
Interest Coverage 0
Management Effectiveness
Return On Assets -17.6%
Ret/ On Assets - 3 Yr. Avg. -16.8%
Return On Total Capital -20%
Ret/ On T. Cap. - 3 Yr. Avg. -21.8%
Return On Equity -20.3%
Return On Equity - 3 Yr. Avg. -22.5%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin -55.4%
EBITDA Margin - 3 Yr. Avg. -49.1%
Operating Margin -65.2%
Oper. Margin - 3 Yr. Avg. -54.7%
Pre-Tax Margin -64.1%
Pre-Tax Margin - 3 Yr. Avg. -54.4%
Net Profit Margin -64.1%
Net Profit Margin - 3 Yr. Avg. -54.4%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

MGNX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MGNX stock intrinsic value calculation we used $157.742 million for the last fiscal year's total revenue generated by Macrogenics. The default revenue input number comes from 0001 income statement of Macrogenics. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MGNX stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for MGNX is calculated based on our internal credit rating of Macrogenics, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Macrogenics.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MGNX stock the variable cost ratio is equal to 42.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $115 million in the base year in the intrinsic value calculation for MGNX stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Macrogenics.

Corporate tax rate of 27% is the nominal tax rate for Macrogenics. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MGNX stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MGNX are equal to 21.5%.

Life of production assets of 4.7 years is the average useful life of capital assets used in Macrogenics operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MGNX is equal to -20.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $299.238 million for Macrogenics - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 42.202 million for Macrogenics is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Macrogenics at the current share price and the inputted number of shares is $0.7 billion.

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COMPANY NEWS

▶ MacroGenics: 3Q Earnings Snapshot   [Nov-07-18 04:46PM  Associated Press]
▶ MacroGenics: 2Q Earnings Snapshot   [04:58PM  Associated Press]
▶ Md. biotech to be acquired by New Jersey pharmaceutical goliath   [May-08-18 05:00AM  American City Business Journals]
▶ MacroGenics: 1Q Earnings Snapshot   [04:32PM  Associated Press]
▶ MacroGenics, Inc. to Host Earnings Call   [12:00PM  ACCESSWIRE]
▶ 5 Small-Cap Stocks With Explosive Upside Potential   [Apr-09-18 12:05PM  TheStreet.com]
▶ MacroGenics to Present at Cowen Health Care Conference   [Mar-09-18 07:00AM  GlobeNewswire]
▶ MacroGenics tops 4Q profit forecasts   [Feb-27-18 05:49PM  Associated Press]
▶ MacroGenics, Inc. to Host Earnings Call   [12:50PM  ACCESSWIRE]
▶ [$$] OppenheimerFunds' Big Biotech Stock Buys   [Feb-07-18 08:28AM  Barrons.com]
▶ Incytes Collaborations and Developments in 4Q17   [Jan-10-18 09:04AM  Market Realist]
▶ CKPT: A Mad Scramble for Combination Therapy Makes Checkpoint a Gem   [Dec-07-17 10:45AM  Zacks Small Cap Research]
▶ CKPT: A Smokin Opportunity in PD-L1 Therapy and Beyond   [Dec-06-17 02:20PM  Zacks Small Cap Research]
▶ MacroGenics Names Dr. Jay Siegel to its Board of Directors   [Nov-15-17 04:30PM  GlobeNewswire]
▶ MacroGenics reports 3Q loss   [Nov-08-17 04:37PM  Associated Press]
▶ MacroGenics, Inc. to Host Earnings Call   [12:40PM  ACCESSWIRE]
▶ Why this Rockville biotech's stock made a big jump this week   [Oct-26-17 03:10PM  American City Business Journals]
▶ Why MacroGenics, Inc. Stock Soared Today   [Oct-25-17 06:07PM  Motley Fool]
▶ Incyte enters into licensing deal valued at up to $900M   [01:00PM  American City Business Journals]
▶ MacroGenics reports 2Q loss   [Aug-02-17 11:09PM  Associated Press]
▶ ETFs with exposure to MacroGenics, Inc. : June 8, 2017   [Jun-08-17 01:46PM  Capital Cube]
▶ ETFs with exposure to MacroGenics, Inc. : May 8, 2017   [May-08-17 04:55PM  Capital Cube]
▶ MacroGenics reports 1Q loss   [May-03-17 05:26PM  Associated Press]

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