MacroGenics Inc. Common Stock (MGNX)

FairStock Score: 46/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses whose earnings I can forecast and buy them at a discount to intrinsic value. MacroGenics does not fit easily. It is a 293-person clinical-stage biotech developing antibody-based cancer therapies, with lorigerlimab in Phase 2. The science may matter, but the financial record is not that of a durable franchise. Filed results show FY2023 revenue $58.7M and net loss $9.1M; FY2024 revenue $150.0M and net loss $67.0M; FY2025 revenue $149.5M and net loss $74.6M. So revenue rose sharply into 2024 and then flattened, while losses widened. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $20.8M and net loss $36.8M. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $32.8M and net income $19.5M, a positive swing, but one quarter does not create a trend. Trailing-twelve-month free cash flow is -$65.5M, a -30.1% FCF yield on a $217.9M market cap. The balance sheet carries D/E of 0.82, while the Altman Z-score of -3.98 and Piotroski score of 4/9 suggest financial fragility. The Lynch category is none because of losses in each of the last four years. At $3.42 on 2026-10-13, FairStock shows P/B of 5.10 despite negative EPS of -$1.59 and P/E of -2.15. A FairStock score of 46/100 seems fair. There is no margin of safety I can calculate; this is a pipeline option, not a Graham bargain. I would need proof of sustainable product revenue and lower cash burn before calling it investment grade.

In plain English: MacroGenics is a small biotech company working on new cancer medicines. It has lost money in each of the last four years and has been spending more cash than it brings in, so the business still looks unproven. At $3.42 a share, the price does not look clearly cheap against its uneven sales and losses.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer