MacroGenics price target lowered to $3 from $5 at B. Riley

B. Riley lowered the firm’s price target on MacroGenics (MGNX) to $3 from $5 and keeps a Neutral rating on the shares. The company’s key operational updates on a more focused oncology pipeline were noted on its earnings call, with management reaffirming guidance for disclosure of two key trial readouts in 2025, the analyst tells investors in a research note. B. Riley believes the end of selling pressure in the follow-up to the string of vobra duo-related disappointments may be nearing.