Arcus Biosciences (RCUS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Eva Fortea Verdejo from Wells Fargo maintained a Buy rating on the stock and has a $29.00 price target.
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Eva Fortea Verdejo has given her Buy rating due to a combination of factors, highlighting the promising efficacy data for Arcus Biosciences’ casdatifan. The updated data suggests that casdatifan has a best-in-class potential with a median progression-free survival (mPFS) of 9.7 months, which is superior to competitors like belzutifan and NKT2152. The objective response rate (cORR) ranged from 25-33%, with the most favorable results in the 100mg QD dosage cohort.
Additionally, the safety profile of casdatifan remains favorable, with manageable anemia and hypoxia rates. The upcoming steps for Arcus Biosciences, including the initiation of new dosing expansion cohorts and phase trials, are expected to act as key catalysts for the stock. The anticipated presentation of initial safety and efficacy data for the cas+cabozantinib combination in mid-2025 could further validate the drug’s potential and provide a de-risking effect for ongoing trials.
In another report released today, Barclays also maintained a Buy rating on the stock with a $29.00 price target.