B. Riley initiated coverage of MacroGenics with a Buy rating and $25 price target. The analyst views the company’s most advanced candidate, vobra duo, as “significantly de-risked” in the ongoing over-enrolled Phase II TAMARACK registration-enabling study, the analyst tells investors in a research note. The firm MacroGenics’ fully integrated development and manufacturing capabilities have led to a partnered program portfolio consisting of three FDA-approved medicines and earlier-stage pipeline candidates.
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