MacroGenics downgraded to Market Perform from Outperform at JMP Securities

JMP Securities analyst Silvan Tuerkcan downgraded MacroGenics (MGNX) to Market Perform from Outperform without a price target The company “is in a holding pattern” with respect to its pipeline, has paused all vobra duo development, including the lorigerlimab combo, and sold Margenza, the analyst tells investors in a research note. The firm cites the uncertain future of MacroGenics’ B7-H3 franchise and lack of data and clarity on lorigerlimab and the DART programs for the downgrade. It views the shares as fairly valued currently.