Leerink lowered the firm’s price target on MacroGenics (MGNX) to $5 from $8 and keeps an Outperform rating on the shares. The firm notes the company reported Q2 financial results that were largely in line and notably announced the appointment of Eric Risser as President and CEO the day before. Overall, Leerink’s thesis on MacroGenics is based on potential royalties and milestone payments related to multiple partnered programs and cash.
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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MGNX: