Arcus Biosciences (RCUS) PT Lowered to $44 at Truist Securities

Truist Securities analyst Asthika Goonewardene lowered the price target on Arcus Biosciences (NYSE: RCUS) to $44.00 (from $50.00) while maintaining a Buy rating.

The analyst comments "We have an increasing appreciation of Arcus' well-stacked pipeline, where 3 assets (Domvanalimab, Etrumadenant & Quemliclustat) now have compelling Ph1/Ph2 proof of concept data in hand and are pursuing registration-enabling studies, and a 4th (Casdatifan) is likely to be in a similar position in ~12 months. Importantly, pivotal data flow may begin as early as 2025 (we think 2H25 for Dom/Zim). While we acknowledge investor angst with immuno-oncology drug combinations, we have reasons to have favorable expectations. We maintain our Buy rating, and trim the PT to $44 (vs $50 previously) on transition-related model adjustments."

You May Also Be Interested In

• WaterBridge Infrastructure (WBI) PT Raised to $40 at Raymond James
• Marvell (MRVL) PT Raised to $225 at TD Cowen
• UGI shares spike on reported KKR bid for the company