Stifel Downgrades Macrogenics to Hold, Lowers Price Target to $7
Portfolio Pulse from Benzinga Newsdesk
Stifel analyst Stephen Willey downgraded Macrogenics (NASDAQ:MGNX) from Buy to Hold and significantly reduced the price target from $29 to $7, indicating a bearish outlook on the company's stock.
May 10, 2024 | 9:39 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Stifel's downgrade of Macrogenics to Hold and the significant reduction in price target from $29 to $7 suggests a bearish outlook on the stock, potentially leading to short-term price pressure.
Analyst downgrades, especially with significant price target reductions, often lead to short-term negative sentiment and price pressure on the affected stock. Given the drastic cut from $29 to $7, this indicates a strong bearish stance by Stifel, likely reflecting concerns about Macrogenics' future prospects or performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100