B. Riley Sees Upside in MacroGenics, Inc. (MGNX) Following Gilead-Driven Sector Activity

We recently compiled a list of the 10 Best Biotech Stocks Under $10 to Buy. MacroGenics, Inc. is one of the best biotech stocks.

TheFly reported on April 10 that B. Riley raised its rating on MGNX to Buy from Neutral and assigned a $9 price target. The firm highlighted the company’s positioning in the evolving antibody-drug conjugate landscape, particularly within the ADAM9 TOPO1 inhibitor segment. Its view follows recent industry developments, including a notable transaction involving Gilead, which prompted a reassessment of valuation approaches for next-generation ADC platform companies.

Separately, on April 8, MacroGenics, Inc. (NASDAQ:MGNX) announced that the U.S. Food and Drug Administration lifted the partial clinical hold on its Phase 2 LINNET trial evaluating lorigerlimab, an investigational bispecific antibody targeting PD-1 and CTLA-4. During the restriction period, patients already enrolled were permitted to continue treatment.

With the hold now removed, the company plans to restart enrollment of new participants under an updated study protocol that incorporates added safety measures to address potential blood-related and cardiac risks. The company indicated that it worked closely with regulators to resolve concerns and remains on schedule to provide a clinical update on the program later in the year, as development of the therapy continues.

MacroGenics, Inc. (NASDAQ:MGNX) is a clinical-stage biopharmaceutical company focused on developing antibody-based therapies for cancer. It leverages proprietary technologies to create targeted treatments designed to enhance immune response and improve outcomes for patients with unmet medical needs.

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