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.
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