MacroGenics initiated with an Outperform at Credit Suisse. Credit Suisse analyst Michael Morabito started coverage of MacroGenics with an Outperform rating and a $29 price target. The analyst believes MacroGenics is an opportunity driven by a pipeline with multiple upcoming proof-of-concept data readouts. Clinical updates on lead asset margetuximab in breast cancer are likely to drive the stock in the short term, but the base platform holds the most potential value, he contends.
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