BTIG downgraded MacroGenics to Neutral from Buy without a price target. The company discontinued the Tamarack study after a review of its risk/benefit profile, the analyst tells investors in a research note. As a result, the firm removed its vobra duo market model for the of metastatic castration-resistant prostate cancer. Additionally, the Tamarack study’s discontinuation results in a lack of clarity regarding stock-moving catalysts within the next 12 months, contends BTIG.
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