JMP Securities lowered the firm’s price target on MacroGenics to $16 from $22 and keeps an Outperform rating on the shares. Vobra-duo top-line data included solid PSA50 results and response rates in metastatic castration-resistant prostate cancer patients, but the safety profile worsened compared to a prior update in the larger patient population with more follow-up, the analyst tells investors in a research note. The firm prefers to wait for the 2H24 data to form a full picture of the opportunity.
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