JMP Securities analyst Silvan Tuerkcan lowered the firm’s price target on MacroGenics to $8 from $16 and keeps an Outperform rating on the shares. The Independent Data Monitoring Committee recommended the discontinuation of vobra duo for the remaining metastatic castration-resistant prostate cancer patients following review of the accumulated data, the analyst tells investors in a research note. MacroGenics has entered a quiet period and little can be inferred about the safety signals that triggered the IDMC recommendation, the firm says.
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