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Fly News Breaks for June 5, 2019
MGNX
Jun 5, 2019 | 08:24 EDT
Stephen analyst Kevin Willey lowered his price target for MacroGenics to $29 from $36, saying he expects maturing overall survival data from Sophia to command "meaningful" regulatory and commercial importance given what is likely to remain perceived to be a progression free survival benefit of uncertain clinical relevance. Willey tells investors in a research note that he is now less optimistic directionally-supportive OS data will manifest over time in the intent-to-treat patient population and has "minimal" confidence the early numerical OS separation favoring margetuximab in CD16A-158F patients will prove durable. He maintains a Buy rating.
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