Analyst Kaveri Pohlman of BTIG maintained a Buy rating on Arcus Biosciences (RCUS – Research Report), retaining the price target of $70.00.
Kaveri Pohlman’s rating is based on the promising clinical trial data and strategic positioning of Arcus Biosciences in the competitive landscape of cancer treatments. The upcoming presentations at ASCO 2024 for both the Edge-Gastric and ARC-9 studies are pivotal, with the Edge-Gastric study showing encouraging six-month progression-free survival (PFS) rates that align with historical benchmarks. Additionally, Arcus’ TIGIT program, despite expected efficacy similar to competitors, stands out with a cleaner safety profile, which may offer a competitive advantage over treatments associated with gastrointestinal toxicities.
Furthermore, the ARC-9 study targets a market with limited competition for the third-line treatment of metastatic colorectal cancer (mCRC), and Arcus’s inclusive approach to patients with liver metastases, who represent a substantial portion of the mCRC patient population, presents a significant opportunity. The breadth of the TIGIT franchise, with multiple ongoing Phase 3 trials and expected data readouts, including from partner Roche’s Skyscraper-01 study, underscores the potential for Arcus’s therapies in areas of high unmet need. Pohlman’s Buy rating reflects confidence in Arcus’s ability to deliver value through its robust pipeline and strategic clinical development.
According to TipRanks, Pohlman is a 4-star analyst with an average return of 5.9% and a 31.54% success rate. Pohlman covers the Healthcare sector, focusing on stocks such as Gritstone Oncology, Arcus Biosciences, and Nuvation Bio.
In another report released on April 28, Citi also maintained a Buy rating on the stock with a $37.00 price target.
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Arcus Biosciences (RCUS) Company Description:
Arcus Biosciences, Inc. engages in the development and commercialization of immunotherapies. The firm compete in the segments of the pharmaceutical, biotechnology and other related markets that develop immunotherapies for the treatment of cancer. The company was founded by Terry J. Rosen and Juan Carlos Jaen in 2015 and is headquartered in Hayward, CA.
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