MacroGenics price target lowered to $5 from $6 at Stifel

Stifel lowered the firm’s price target on MacroGenics (MGNX) to $5 from $6 and keeps a Hold rating on the shares following earnings and a corporate update. An update from the fully-enrolled LORIKEET trial in chemotherapy-naive mCRPC patients due in the second half represents “a potentially important catalyst,’ particularly given that the current valuation “doesn’t imply any value here,” says the analyst, whose updated model mostly reflects revised financing assumptions.