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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MGNX: