HC Wainwright & Co. Maintains Neutral on Macrogenics, Lowers Price Target to $4
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Robert Burns has maintained a Neutral rating on Macrogenics (NASDAQ:MGNX) but has significantly lowered the price target from $16 to $4.
May 13, 2024 | 4:25 pm
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NEGATIVE IMPACT
HC Wainwright & Co. has maintained its Neutral stance on Macrogenics, but the substantial reduction in the price target from $16 to $4 could signal a lack of confidence in the company's short-term growth prospects.
The drastic reduction in the price target by a reputable analyst firm like HC Wainwright & Co. typically reflects a negative outlook on the company's financial health or growth prospects. Such a significant adjustment is likely to influence investor perception negatively, leading to potential short-term price pressure on MGNX shares.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100