Arcus Biosciences price target lowered to $25 from $35 at Barclays

Barclays lowered the firm’s price target on Arcus Biosciences (RCUS) to $25 from $35 and keeps an Overweight rating on the shares. On the surface Roche’s (RHHBY) anti-TIGIT failure in lung cancer is another negative read-through for the TIGIT class, and it has similar elements to Merck’s (MRK) failure, the analyst tells investors in a research note. However, the firm says these have important differences versus Arcus’ program which uses Fc inactive domain, which it believes is important for the safety and tolerability profile.