UPDATE: Wedbush Initiates Outperform On MacroGenics On Prospects Of Cancer Treatment Drugs

In a report published Tuesday, Wedbush analyst Gregory Wade initiated an Outperform rating on MacroGenics MGNX and a price target of $70.00. In the report, Wedbush says "Novel immunoregulatory therapeutics (PD1, PDL1, CTLA4, IDO, B7-H3, CD-27, CD-47) are elevating the likelihood for unprecedented efficacy for next-generation antibody and antibody-like therapies that appropriately target and recruit the immune system to treat cancer." MacroGenics closed on Tuesday at $25.64.