MacroGenics price target raised to $22 from $16 at JMP Securities

JMP Securities analyst Silvan Tuerkcan raised the firm’s price target on MacroGenics to $22 from $16 and keeps an Outperform rating on the shares. MacroGenics will present TAMARACK vobramitamab duocarmazine data at the American Society of Clinical Oncology Annual Meeting with a focus on safety and initial efficacy before there is a radiographic progression-free survival update in 2H24, the analyst tells investors in a research note Given the large interest in antibody-drug conjugates and the potential for B7-H3, JMP views this as a major catalyst for the program before MacroGenics expands into additional tissues.