BMO Capital analyst Etzer Darout upgraded MacroGenics to Outperform from Market Perform with a price target of $16, up from $5.70. The analyst maintains a “cautious view” of MGC018 in prostate cancer, but says recent key opinion leader feedback was positive and that he likes the prospect of the combination with lorigerlimab. MacroGenics has also mitigated its financing risk with cash on hand now to get to the Phase 2 portion of the MGC018 randomized study, Darout tells investors in a research note. He’s also incrementally more positive on the company’s partnerships opportunities.
previous post