HC Wainwright & Co. Downgrades Macrogenics to Neutral, Raises Price Target to $14
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Robert Burns downgraded Macrogenics (NASDAQ:MGNX) from Buy to Neutral but raised the price target from $12 to $14. This adjustment reflects a change in the firm's outlook on the stock, balancing a more cautious stance with a slightly more optimistic valuation.

February 14, 2024 | 11:30 am
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Macrogenics was downgraded from Buy to Neutral by HC Wainwright & Co., although the price target was raised from $12 to $14.
The downgrade to Neutral suggests a more cautious view on Macrogenics' immediate growth prospects or market position, potentially due to market saturation or competitive pressures. However, the increase in the price target to $14 indicates a belief in the company's underlying value and long-term potential. This mixed signal could lead to short-term market uncertainty for MGNX, with investors weighing the downgrade against the higher price target.
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