Arcus Biosciences (RCUS) Chief Medical Officer Move to Gilead (GILD) Suggests Strengthened Relationship Between the Companies - Mizuho

Mizuho Securities analyst Mara Goldstein reiterated a Buy rating and $43.00 price target on Arcus Biosciences (NYSE: RCUS) after it was announced the transition of Chief Medical Officer - William "Bill" Grossman M.D., Ph.D. - to senior vice president of oncology at GILD overseeing clinical-stage oncology programs, including RCUS' pipeline/partnership with GILD.

"Given Dr. Grossman's previous tenure at Genentech with personnel now at GILD, we see this as an opportunity to further strengthen the relationship between RCUS and GILD, creating the possibility of greater R&D synergy and alignment in the ongoing 10-year partnership between the companies," the analyst commented.

For an analyst ratings summary and ratings history on Arcus Biosciences click here. For more ratings news on Arcus Biosciences click here.

Shares of Arcus Biosciences closed at $29.63 yesterday.

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