In a report released today, Ami Fadia from Needham maintained a Buy rating on Merus (MRUS – Research Report), with a price target of $83.00.
Ami Fadia’s rating is based on the potential positive outcomes from upcoming data presentations at ASCO, which could enhance Merus’s competitive position. The anticipated data from the Phase 2 study of petosemtamab in combination with pembrolizumab for first-line treatment of head and neck squamous cell carcinoma (HNSCC) is expected to provide key metrics such as median progression-free survival (mPFS) and one-year overall survival (OS) rates.
Fadia anticipates that if the one-year OS rate for petosemtamab plus pembrolizumab reaches the high 60s, and the objective response rate (ORR) in HPV-positive patients exceeds 40%, it could positively impact the stock. Additionally, if petosemtamab’s profile is at least comparable to or better than its competitor, ficerafusp alfa, this could result in significant upside potential for the stock, further supporting the Buy rating.
Fadia covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Jazz Pharmaceuticals, and Merus. According to TipRanks, Fadia has an average return of -2.0% and a 38.94% success rate on recommended stocks.
In another report released on April 20, LifeSci Capital also maintained a Buy rating on the stock with a $110.00 price target.