MacroGenics Analyst Impressed By Improved Safety Profile From Prostate Cancer Candidate
Portfolio Pulse from Vandana Singh
MacroGenics Inc (NASDAQ:MGNX) updated on its Phase 2 TAMARACK study for metastatic castration-resistant prostate cancer, highlighting improved safety from its candidate vobramitamab duocarmazine (vobra duo). Despite the abstract not being accepted for ASCO presentation, the company plans to share further data by May end. JMP Securities maintains a Market Outperform rating with a $22 price target, noting the enhanced safety profile and reduced treatment interruptions.
April 04, 2024 | 6:16 pm
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MacroGenics Inc's Phase 2 study update on vobra duo for prostate cancer shows improved safety, with JMP Securities maintaining a Market Outperform rating and a $22 price target.
The positive update on the safety profile of vobra duo and the maintained Market Outperform rating by JMP Securities, along with a specific price target, suggest a strong short-term bullish sentiment for MGNX. The significant share price increase on the day of the announcement further supports this outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100