Analyst Mara Goldstein of Mizuho Securities maintained a Buy rating on Arcus Biosciences (RCUS – Research Report), with a price target of $51.00.
Mara Goldstein’s Buy rating for Arcus Biosciences is influenced by a strategic collaboration and a promising clinical trial timeline. The partnership between Arcus Biosciences and Exelixis to study AB521 in combination with zanzalitinib in a Phase Ib/II trial represents a significant stride forward in the development of treatments for clear cell renal cell carcinoma. Goldstein recognizes this alliance not only as a clear roadmap for AB521’s development but also as a financial advantage due to the sharing of costs associated with the program.
The initiation of the STELLAR-009 trial by the end of 2023 and the anticipation of monotherapy dose-escalation data in early 2024 are key milestones that Goldstein identifies as positive catalysts for the stock. She views these upcoming events as important indicators of the company’s progress and potential for success, which underpin her Buy rating and $51 price target for Arcus Biosciences’s stock.
In another report released on December 4, BTIG also assigned a Buy rating to the stock with a $70.00 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.
Read More on RCUS:
- Exelixis, Arcus team on trial of zanzalintinib-AB521 combo to treat ccRCC
- Arcus Biosciences management to meet with Truist
- Arcus Biosciences reports Q3 EPS (94c), consensus ($1.13)
- Gilead and Arcus Biosciences report results from EDGE-Gastric study
- Cantor biotech/biopharma analysts hold an analyst/industry conference call
