Morgan Stanley lowered the firm’s price target on Arcus Biosciences (RCUS) to $25 from $36 and keeps an Overweight rating on the shares. The firm increased its view of the odds of success for Casdatifan to 60% from 40% on the updated data and near-term advancement into Phase 3, noting that it models a 2028 launch. However, the firm lowered its view of the odds of success for Domvanalimab to 20% from 40% follow Merck’s (MRK) anti-TIGIT update and to more closely align with its model for partner Gilead (GILD).
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Read More on RCUS:
- Arcus Biosciences retains rights to casdatifan
- Arcus Biosciences prices 13.6M shares at $11.00 in underwritten offering
- Arcus Biosciences’ Casdatifan: Promising Efficacy and Safety Profile Highlights Buy Rating
- Arcus Biosciences 13.6M share Secondary priced at $11.00
- Arcus Biosciences: Hold Rating Amid Uncertain Future for Casdatifan and Competitive Challenges