MacroGenics price target raised to $16 from $10 at JMP Securities

JMP Securities analyst Silvan Tuerkcan raised the firm’s price target on MacroGenics to $16 from $10 and keeps an Outperform rating on the shares. A recent sentiment shift in smid-cap biotech land, primarily driven by continued M&A, improves the outlook, the analyst tells investors in a research note. MacroGenics rallied significantly over the past two months, and the firm continues to believe that antibody-drug conjugates against new targets remain a scarce opportunity and great modality.